Take a closer look at the third line of the first paragraph:
"...that we're auctioning off..."
And now from he American Heritage® Dictionary of the English Language, Fourth Edition:
auc·tion (ôkshn)
n.
1. A public sale in which property or items of merchandise are sold to the highest bidder.
It is an auction and there is no set price. Bid just $12.50 if you want, but if enough people are willing to pay more that that, you won't get any.
-Lenny