The Crazy Merchant cannot be caught or reasoned with. She is the wind, but also the earth. He is an illusion, riding along the trail of destiny. Its bag of junk contains eternity, and also nothing.
The quality and quantity of crazy merch items vary per event, as do those of auctions.
Just as we tend to avoid auctioning powerful high end gear that only the wealthy veteran will really be able to afford, we won't always crazy-vend low end items because it might dishearten players from participating.
After all, why waste time finding deranged merchants if they usually sell undesirable items?