Hhhhmmmm....If you look at the bid history, although it's private you can see that the bid for £2224 was made in advance and accounts for most of the jumps in price.
Maybe the person who bid £127 and then £2225 was just trying to catch the £2224 bidder out, having realised that every bid placed was immediately auto-outbid by the £2224 bidder.
I'd be interested to know the reason they gave for not being able to pay...
p.s. Even £35 is crazy for a FF Cotton Candy!