More Favorable Context
A feature of online-only internet auctions that is easily missed is the big difference in context between internet auctions and traditional open-outcry events. No matter how much time and energy the auctioneer puts into presenting items in the best light, bidders at a live auction view those items in a much broader context, associated not only with all the other items that are for sale, but with all the other sights, smells, and sounds that are present at the auction location.
Internet auctions, on the other hand, focus people's attention on the items that are being sold. Each item can be presented on its own, with numerous pictures, detailed descriptions, high-definition videos, and links to further research materials. What the bidders miss is the smell of a restaurant that has not been operated in months. No one sees the pigeon crap that coats the old barn, the weeds that have grown up around the farm equipment, or the garbage that surrounds an industrial complex. They don't feel the blistering summer heat or the biting winter cold. Even if they inspect the items in-person, when it comes time to place their bids, they will do so from the comfort of their own homes and offices while viewing the items exactly as the auctioneer has presented them.