Can be worth just ‘watchIng’ items. Occasionally a seller will offer a lower price.
I sold a few pieces of good quality s/h items on ebay this year. I normally only set a BIN. On the occasions where I'd set an auction and a BIN I got lots of auction watchers within a couple of hours but no bids from any of them. Auction watchers are being really cute these days. They're all waiting, without bidding at all, leaving the BIN open. I think what they're waiting for is the auction to run its course (2 weeks?) and hoping that the ebay automatic re-listing has been set to kick in with the automatic £20.00 price reduction (which then reduces again every auction cycle), then they can hit the BIN or wait for another cycle to end etc.
However, none of my auctions has ever gone this way for two reasons. Firstly I never allow the automatic reduction feature to kick in. Secondly none of my items has ever got to end of auction.
I put top quality/brand stuff on at a fair s/h price. Someone who has recognized this has always comes in on the BIN after a day or so of listing. If you had been a waiting 'watcher' on any of my auctions and had been looking at something really good quality, which you had really wanted, which had been at a really good price, you'd have lost the item every single time. Ebay really is even more of a shambles these days than it ever was.