To everyone that thinks an item is worth what the buyer is willing to pay: A person who is buying an item does not yet own said item. A person who is selling said item sets the price for it.
An item is worth EVERY LAST PENNY that the SELLER is willing to sell it for. Until you are allowed to go and pimpslap somebody for their gear, a person who is selling an item sets the price and it is the buyer's job to either talk the seller down or move on to the next item up for bid. You cannot own what you have not yet bought. Therefore you cannot set a price for it because you do not own it.