Since he still has your rope, I assume you haven't had him very long. If that's the case you can probably get back about what you paid for him...probably less if you don't get the rope off.
Freddy in your area (and it applies to all other locations) they always bring one bid less than what you paid.
The auction established the value and proved what others in your local area are willing to pay for that quality that day.
Had you not put in the last bid, he would have sold to the other bidder for one bid less.
The odds of someone being ripped off are always much higher in a private sale than an auction.