A reserve price is the price you won't sell for less than. It's stupid to set too high a price to start, so you set a low starting price, a higher reserve, and, if you want, an even higher quick-selling price.

Example. I have an Epiphone Les Paul Special, blue, that I want to sell. (I do, as it happens). I know I should get about $85 for it (before shipping), so I set a reserve of $80, a starting price of $25, and a buy-it-now price of $100. If the top bid is $75, I keep my guitar; if it's $80, I sell it. That's about it. Ebay charges an upcharge for a reserve-price auction, by the way, but it's refunded if you have to auction it again, I think -- you don't get charged twice if you try twice.

Bob Clayton
songuitar@starpower.net (if anyone's interested in the Epiphone)