That's exactly how it works in O&C, and people abuse it to the extreme, to sell stuff apparently cheap, while it's not. It would take too long to explain all the details, but it's basically that auctions are sorted by the bid price. So people sell a lot of stuff for a low bid price and a fairly high 'buy-out' price. They flood the market with the same crap so that the actual cheap items take long to search for, or are far down or in the middle of the list. And since people usually want the item immediately, they don't know/want to search a list of 1000's items to find something cheaper. If you want to know exactly what I mean, I'd suggest you check out O&C yourself and see if you like it. It's hard to describe in a couple of sentences what a mess it really is. You could also sort on buy-out price, but then it would be hard to find where the lowest bid currently is.
So yeah, I like the way CS works here better. An easier and better overview, without a chance that merchants would 'game' the system to lure inexperienced players to buy their stuff at high prices. But then again, that's only my personal opinion about it
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