Yes - I totally agree - when I saw how the bids were listed I asked here about that because I've never seen it. I am however relatively new at eBay (2009 or so) and I don't know all the bidding rules/formats.
Also - I have never seen a Cadillac Green Gretsch snare from the 60's - let alone decked out like that = 'snap-in key holder. The holder probably is 60's. I've read where Gretsch made the Cadillac Green Gold plated kits from 54-58 - you can see the listing...and the catalog states Cadillac Green drum come only with gold hardware. But, I'm finding there were some exceptions.