I think that the larger number of unsold auction listings is due to one of the recent changes in
ebay policies, whereby they took away "free" fixed price listings for non store owners and dramatically increased the number of "free" auction listings for the same. In conjunction with this change,
ebay started a new functionality which allows unsold auction lots to be relisted automatically 3 times. I believe that this has changed the nature of auction listings where the automatic 3 relistings has created a new type of defacto "reserved price acution". As a seller if you want to create a normal reserve price auction, you have to pay
ebay a fee. Not with this new type of listing.
The risk of any type of auction is that this might not be the right moment to get what the seller considers a reasonable price. So
ebay has created an incentive for sellers to set a reserve and run an auction for a month. 4 bites at the apple and hopefully one buyer or more will notice. For the lots that are truly mispriced, this just creates more stale inventory for the buyers to sort through.
From a big picture perspective, this practice is not that different than the one practiced by all big time stamp auctioneers. How many stamp auctions have I been to, where the auctioneer starts a lot out at a price... maybe drops it a bit to see if there are any takers and then just passes the lot? Often times that lot just morphs somewhat and shows up again and again. Different venues.... same result.
ebay's logic when they tried to force people out of the fixed price space into auction listings is that auction listings have a higher sell through rate. Of course that assumes that the auctions actually sell. I have no doubt that the sell through rate on auctions has gone down with this policy shift. I am sure that the MBA's at
ebay are trying to think of another "Update" that will "improve the experience" for all. Ha Ha.
Bob