It's not griefing in the slightest. As far as I am concerned it is an auction that someone put up, willing to receive the price they requested for the item. Which in my case has been 1 copper, 1g and so forth.
I don't even see it as someone else on the other side of the auction, i see it as part of the game. And if someone is willing to put items up for that cheap, then its the risk they take.
How am I in the wrong by buying an auction?
If an auctioneer at a car auction was selling a mint condition 1963 split window corvette for $1 (USD), and I raised my hand to bid and the auctioneer slammed the gavel and yelled "Sold!" is it my fault that I bid and won the corvette?