Because the reserve prices are on the website before the auction. There may be odd bargains (haven’t seen one yet!) but in some cases the sellers are asking 50,000 more than the price when completed last year. Most developments are on sale at most estate agents for the same price.
Don’t know if I posted on here but BBVA bank had an ad’ in Diario Sur last week selling foreclosures. This is where you get the real bargains (if the bank’s staff don’t jump in first!)