I've been regularly outbid on fancy shoes (Church's, Alden) on eBay lately. I'm learning several things:
1. Top-quality shoes hold their value surprisingly well.
2. The people shopping for men's shoes on eBay know the value of what's available.
The second point holds true for shoes far more than, say, suits. I've gotten some absolute steals on suits on eBay. But there are so many more variables in buying suits on eBay: exact fit, drape, and most importantly, hand. Those are things you just can't tell from a picture, whereas if you buy an Alden cap toe in a 9.5E, you know exactly what you are getting, and particularly if it's cordovan, you know it'll still be in great shape.