Why do people not do Buy It Now more

Sometimes I get more for my bag when it is listed in a regular auction. Sometimes I do a BIN with a best offer, but then I get idiots offering $150 on a Louis Vuitton bag that costs $2000!
 
My own personal view is just this. I don't offer a BIN and I get loads of questions about do I have a BIN, would I end the auction if no BIN is available. Then when I have BIN, I rarely see it being used.

I think the thrill of an auction for my items at least, do much better. I also start my auctions at a low price, usually no reserve. I have only been severely screwed a few times. The times that I wasn't screwed seemed to have made up for that huge loss.