I know it's a schoolboy 101 lesson but always start low and increase your bid in stages when bidding for a high priced synthed item like this. Reason being, look how certain players repeatedly buy the same item again and again usually from the same people.
If a market is starting to dip these players post their items at a very cheap rate and buy it off themself from another character at a very high rate straight away making it look like the item is worth more than the current market and subsequently players bid 100-200k below the price the last few have sold for (even if the last few sold for 500k more than they should of) This is a great piece of equip but Silvig on Shiva, do you really need 54 of them?
@ Kryptonitic, while your assessment might be true, there is one more possibility. The person might be buying them up, transferring them to mules, and server hopping to sell at greater prices. I have done this before and made 50mil + per server hop over my initial investments.
@ Prometheus: Quadratic Continuum (non chain affinity as you use +1/2 helm for that) since it's Str and Vit. & Leonine Mask was better for outside Hi then Maat's cap.