The amount of bag space is very poor. Could 11th hour possibly invent a couple of extra bags that fit inside the inventory? That way I won’t be leaving thousand of gold’s worth of stuff lying around.
Look at the prices of items. Picking them up and selling them is a netloss of gold because starting at ~lvl10 gold piles are worth more then the itemes outside of uniques.
If Unique and Set items always sold for a fixed 500 it’d be easy to see which items are even worth picking up, sadly they’re not one price so you need to examine such items but AFAIK no other item types reachanywhere near 500 consistently to be worth looking at if you’re only considering them vendor fodder on a CoF character.
Amulets with high level base types can sell for over 400(500?) gold. Uniques, AFAIK all sell for 500 gold, except for Avarice (250 gold), which you get from a quest.
Added: Boss-specific uniques are also 250g.
Anyway, as has been said, most items aren’t worth picking up to vendor, and that’s by design.
Shift + F is your friend 
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