I kind of wanted more of DDO type auction, heard WoW had similar one but better features.
If the item is up on the market you can try to compare/compete with that price but if there is none up on the auction you as a seller have to decide what the value is since it doesn't show any history. If you're not watching the market carefully you may sell the item say 100k item for 20k or on the other hand if you are a buyer and not watching the market carefully you will spend more on something when the average is much lower, if the item is a regularly circulated item the price will stay unless some noob undercuts but again if at any point that item stops showing up on the market due to server resets and stuff the auction starts again from default, or another price unless person selling puts it up for the same undercut price.... hope you can understand what I'm trying to explain lol