As a perspective buyer how would you approach an auction house that sets an indicative price that is too high, does not sell the item during the auction, and then sells it after the auction in a much less public way?
That does not generate too much trust, really.
Auction houses live on their (high) commissions but very much on the good publicity that comes out of a successful auction with prices that are reasonable right from the catalogue, and items that are sold during what is very much a public process.

: Jeff, after auction there is a postsell process going, the
: auction house goes back to the client with the highest bid which
: was achieved, if the reserve is not met it is up to the client
: if he decides to let the item go or not.
: Hence a non marked sale might be already a sale after the auction,
: which will not be always marked.
: There was also a world record price in this auction for a Heuer
: stopwatch !!
: Cheers
: Arno

: www.heuerchronographs.com