Also, the WipeOut AuctionTM has eliminated the necessity to wait days for an auction to end. Buyers have the choice to purchase any item immediately or to wait for a potential bargain.
Congratulations, you've invented BIN.
Let me splain this on a level anyone can understand. EbAy, with 200 million users, can't get bids more than 30% of the time, so you, with 206 users, aren't gonna get bids, either.
So this will be site #432,587 where sellers list a bunch of stuff with minimum prices that are 50% over retail, and no one will "bid" prices even higher than that.
Further, since you have a new and different system that doesn't mesh with anything out there, there is no convenient way for serious sellers to list quantities of stuff. So the only people who will list are those who have been thrown off ebaY, and a bunch of wannabes who have no clue how to run a business, and will waste their time listing somewhere that only two "bidders" will see thier stuff, instead of spending the same time listing it somewhere that there's at least a chance a buyer will find them.
Nothing personal, but reality just bit you in the butt.