Posted By:
Aaron M.I use a reserve if I think my idea of how much an item may be worth might differ significantly from what buyers might think. (Especially in an instance of when I'm re-selling an item and I want to make sure I at least make back what I paid for it.)
Otherwise, I always just start with a moderate minimum bid that I know is less than the item's worth. Gets the ball rolling and multiple bids always attracts more attention from other collectors.
As far as the reserves, I always give out my reserve to an inquirer. (What do I have to lose?) If enough people ask, then I just add the reserve price to the updated description so everyone knows what the reserve is.
At the end of the day, if someone meets the reserve and the item sells, then I'm happy.