Why would someone sell at auction instead of pricing their items?
Auctions are fast and efficient, and they reflect the true fair market value of merchandise. When an item is “priced” it is usually either underpriced or overpriced. Either way, the seller takes a risk. If the price is too low, it sells to the first bargain hunter who finds it. He then sells it for the profit that should have been the seller’s. If the price is too high, the item does not sell. It then has to be advertised again at a lower price or negotiated through haggling with one person at a time. At auction, all serious potential buyers are brought together to compete, and the seller is assured of fair market value. It is a time-honored process that is also hassle-free.
