Auction sounds like good opportunity test the valuation, though it might be could make it in sequels as UP has said. Are there any similar scenarios ever done before? How you can prevent people just bid without intention to buy ? Like some ahole just messin with auction
That is very well possible(I do that a lot in ebay to inflate the price and don't buy them and the item goes unsold!!!

) So whoever want to participate in the auction deposit a reserve of say 1 or 2 btcs.