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They used to Auction stuff on ebay under the name 'PriceShaggers' but that seems to have died. Link to the new place?
EDIT: Probably this: http://www.bikebiz.com/news/read/600-planet-x-items-sold-at-auction-earlier-today/020356
I don't know that the profit margins on stuff on the PX site are so small.
I found (via a link posted in this forum possibly) an auction site selling loads of shit on behalf of PX recently.
There was light sets that were still on the PX site at around a tenner each going in batches of 10 or 20 for around a tenner on the auction site. Lots of other stuff that on both the PX site and the auction site too.
Would you really auction stuff at a loss when your actively selling it through your webshop? Strikes me as even at 10 or 20 sets for a tenner they were making a profit at auction so margin on the stuff on the site must be pretty good.