questions

When you set up an auctioning operation, you usually should ask yourself 3 questions to figure out what to use for your minimum/normal/maximum prices:

For your minimum price, ask yourself: "What is the absolute lowest price I am willing to sell this item for?"

For your normal price, ask yourself: "If there is no competition and I have the opportunity to set the price, what do I want to post my item for?"

For your maximum price, ask yourself: "What is the highest price I can see someone actually paying for this item? Undercutting an auction above that price would be pointless as nobody would ever buy my item at such a ridicuously high price!"