I think that the "soft" economy is a general statement that I think most everyone would agree with should yield lower than expected prices on MOST items when comapred to those of a stronger economy. My personal scenario is that in almost every auction that I participate in as a bidder, there is only one item or two at the most that I am interested in which probably differs greatly from most members on this board. So you have to understand that I am gauging my opinion on a very small sample of the overall population.
I still believe, without a doubt, the final price stands a much better chance of ending higher with a higher opening bid than one at 25% of fair market value, as has been the auction houses' norm in the past. I have seen it happen to me too many times from the consignor end to ever agree to anything different.
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