Truth about Online Auctions So, You want to sell items from an estate or you are downsizing and need to offload! Well this is what you are not aware of when you sign a contract to do an online auction: When you use an online auction, there is no reserves on the items you are selling so, they could sell for as low as $1.00. When and item sells for $1.00 you still owe the auction company $9.00. Thats correct they only person making money is the auction company. It would have been better to donate this lot than sell it. You can see with these 2 lots that sold for $2.00 each. The auction company took the $4.00 and will still charge you $16.00... This may not be your best option.