Greg has assessed it well but not everything is suitable for a catalog auction. If I have a T206 Bobby Wallace in a PSA 3, I can't consign it to an auction house. So it has to be sold in a venue like ebay. In fact the majority of $100-$500 cards on ebay may be there because they would be rejected by a major auction house.
Regarding all the BIN's on ebay I think they fit into different categories. If you have a card worth $100 and set a BIN, or opening bid at $100, what's wrong with that? A seller is entitled to get market value for his card.
Most of the complaints are with $100 cards with BINs set at say $250. That's a card priced not to sell, and it's not that there are only a smattering of them listed. The problem is there are so many overpriced items that buyers are getting turned off (and let's not even go into the argument that sellers are free to list their items at any price that want to- we know that but for the sake of discussion that has no relevance).
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