What Happens When Automated Pricing Algorithms Go Insane

Sooo.... cruising around looking for cute Christmas gifts, and I stumble on this:

Heh, that's funny. Jenn and I are sort of accumulating Lego Minifigures at the moment, so this might be worth it as a laugher for a stocking stuffer... $16 is a bit stiff for one minifig, but it is Darth Vader and we're not likely to see another one, right? Sure, let's click on it...

That's right, kids, the $16 minifig can be yours for the low, low price of $59.46... PLUS the $5 shipping fee.
Now clearly what's happened is that some automated supply-and-demand algorithm has noticed that there is suddenly a lot of interest in this item, with an increased number of executed sales, and increased pricing accordingly. What's interesting to me is that when I caught it the first time, the offered price was $64.95 -- although the shipping was freely included. So I'm not sure what the algorithm is trying to do to me.
But $60 for a $16 toy?