Auctions: Why do we want them? Should BB add them?

Not sure if this forum is only for Zeus, so I'll just point out that this only pertains to that server.

Recently some things have happened and a player-created tradition of weekly auctions is in jeopardy. If you are interested in being an auctioneer, send an in-game mail to Loki-666.

I am starting this post to do two things. One is to find out what it is about the auctions that those "in the know" like most about them. The second is to suggest that BB add an option to the Trade Office to change your offers to an Auction instead of just a Sale. Once we know what is most desired from the auctions, we can make a good suggestion to get exactly what we want.

In your suggestions, please indicate if you've participated in auctions in the game as a seller, buyer, or auctioneer (obviously you may have been in all three roles at some point). I think that will help give some perspective to your input.

I have only watched the auctions from time to time, so I don't have much input myself. I do think it would be nice to add a feature to the Trade Office that would let you set a starting bid, a buy-out, and a time length (15 mins, 30 mins, 1 hour, 2 hours, 3 hours, 6 hours, 12 hours, 24 hours, maybe other options).

Ive been in auctions as a buyer seller and auctioneer. Personally I like them (except for the market crash) But I also think a few things need to change for example some people whom are friends just biding people up for no reason. That can be precived at cheated because someone can make a deal in whisper for not paying if they win. I also dont think the auction tab would be a good idea. its kind of like ebay. It would take things forever to sell and its not moderated. I like the communication between the players. However I think an auction tab would be okay if it were a tab under the chat box but otherwise it would be kinda blah.