I don’t think allowing auctions and bidding is a great idea. This rule goes hand-in-hand with the lack of a required asking price for items for sale. Frankly from my 300+ transactions over on /r/mechmarket (over 500 including those not confirmed), auctions and bidding (even if done privately) have often left a bad taste in my mouth, and created more animosity among community members, as it encouraged sellers and traders to seek the largest profit margin and brought out the worst in people who fought against each other in these bidding wars. For auctions and bidding, users should just do that on Ebay.
I want to suggest that this rule be revised and that no such bidding is allowed, as it is on mechmarket.
I’d love to hear people’s thoughts.