A) That most of us are either not very good business people or not very good eBay sellers, since the bulk of the nearly 7,000 items now listed do not appear to have any bids on them. This is probably because they're overpriced! Aside from select pieces, like the bomber jacket Kanye West wore to perform at the Victoria's Secret fashion show, which are highly, highly covetable signposts of the collection, most items won't sell for such high markups. At the end of the day, it might be just as expensive — if not cheaper — to fly to a store in Middle America where not many people care about these lines and you can still find the clothes hanging on the racks, buy what you want, and then fly home. Or, better yet, you could just take all that money and, oh yeah, buy real Versace.
B) Fashion editors are either greedy, severely underpaid, or a combination of the two. At the VIP pre-shop on Friday night, before the collection went on sale Saturday morning, Cut staffers spotted people making beelines to the most iconic pieces from the collection, like the $249 men's leather bomber, and snatching up as many as they could, surely for the express purpose of reselling them. One person was even overheard saying, as he picked up the last of one tee, that he was going to mark it up a ton on eBay.
C) Bloggers enjoy sensationalist headlines more than thinking beyond them. At least one of those jackets is now listed on eBay for $1,200, and it has inspired a few stories about how the collection is now "going for $1,200." But just because it's listed at $1,200 doesn't mean it will actually sell for $1,200.
D) People are seriously hard-up for cash. Occupy H&M, were it a real movement, could actually have a shade of socioeconomic meaning, seeing as at least some pieces that are decently marked up on eBay do have some bids. So sellers stand to make a couple hundred from the pieces. If you've got no job, hopefully you own one of these jackets.
E) All of the above.