I’d also add… if you are auctioning a token you paid cash for the price is locked at the time you post the auction for 2-24 hours, and that the sale is essentially guaranteed.
This means that whether or not the price changed in that 24 hour period you get the price in gold quoted at the time of auction.
It also means that regardless of the actual demand within the 24 hours after you posted, that token will be consumed and gold created - even if no one directly purchased it on the other end.
With that in mind, the “supply and demand” isn’t an instant, true reflection of the current market, but more of a snapshot of likely or inferred demand within that 2-24 hour window - with a guarantee in place to protect the seller from a situation where no one is buying tokens for blizz balance.
tldr -not a true free market supply and demand, but a controlled one with protections in place for the seller, regardless of the actual market.
I imagine there is some sort of equal protection on the buyer side, so that tokens are regularly available, even if none are actually being auctioned by a player on the other side.