Hi -

Here in the UK, there's a program called Bargain Hunt which invites contestants to find and bargain for items at antiques fairs which are then sold in a real live auction.

As far as I can tell, when you watch a live auction, the auctioneer tries to open the bidding at or around the expected price for the item; then has to drop the price way back to attract people in to bid. After bidding's underway, the price can reach much higher than the auctioneer estimated, depending on how many people are really keen. Seems to me that eBay works in a similar way. If you set a reserve price at your minimum acceptable amount and then set the bidding off at a real low value, you can't really lose. Especially if you include a good image on the listing page; an accurate description of the item and better details and images on the full item listing.

Great fun, auctions!

Margaret