I understand where you are coming from.  It always sucks when you put a lot of time and money into something, only to find out it didn't work.  You still feel that it is worth a lot, even though, these things are worth what people will pay for them. 
I actually really like your site.  If your minimum bid were substantially lower, I would even take a flier on it myself.  But the fact is, this is highly speculative.  It is very unlikely to ever make any money no matter how much time\money is sunk into it, and as such there is no way it justifies the price you are looking for. 
At the end of the day, no one cares how much time or effort you spent on the business.  All we care about is the revenue (there is none), the brand (there is none) the customer base (there is none) and the market, which at the moment is super saturated and dominated by larger players. 
It has nothing to do with us being "cheap".  Don't take my word for it, just go over to places like flippa and see what businesses with no revenue and no customer base are worth to get a more realistic idea of what you have here.