When you don't accept bids, i.e., you need to determine whether the market for a particular chip is COLD/MEDIUM/HOT.

If you aren't going to use some sort of bidding concept then you need to consider how much you want to sell each chip for!

I generally start my auctions at 50% below book value; ONE to jump start the bidding and TWO to give people a fair chance to purchase chips at a good price if others aren't interested!