The tradeoff for lower prices is that the seller gets their money quicker. If they wanted full value for any item, they would consign to an auction house and wait it out. I believe that many people sell on ebay for convenience and quick turnaround of cash.
The auctions seem to be going away a bit with only established sellers or newbies holding them. In the case of the newbie, I would guess the majority do not reach full value on the item. In the case of the established seller, their name and reputation brings back buyers and the items probably reach full value.
The middle of the road seller/collector is putting their items up as BIN or consigning to an auction house.
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