Simply not much demand. Not enough buyers of used cards want them. Dealers will bid in auctions to price point where they can make reasonable profit. I would expect something like say two thousand and then some percentage on auction price to make retail price.

They are doing it weekly. They know what sells at what price and how fast. So price discovery can work pretty well and mostly correct.

Now more questions can be asked why there is no demand? Is the initial price maybe too high? Or is there some other factors.