The prices on all but one were low. Most of the bags would have gone for twice as much on ebay. I don't know how they decide ( I'm assuming it's just based on the brand name and the condition of the bag), but one I just got was dirt cheap for it being a hard to find bag. It would have gone for at least a couple hundred more on ebay. I bought a wallet that was in almost brand new condition that sells for $175 on the brands website and they sold it for $57. The wallet was only released in the fall and hasn't been discounted yet so it's not something that can be found on sale yet.
I think they pay you first and then sell. I'm not sure how they compare though as far as payout. I've never used either. So maybe I'm not very helpful!