I don't like reserves on auctions either. Unfortunately, that is the only way to protect the "value" of an item. Some may say "Forget a reserve, just state what you want for the item as an opening and forget the reserve". That's just fine, but then why offer it at auction!! Just list it here or on other BB's as "For Sale". Why pay a listing fee and a commission (no matter how low) if you just wany to "sell" your item. Everyone who buys at auctions looks for a bargain and everyone who sells at auctions is trying to get the most money for their item.
By setting a reserve, if the item doesn't sell after two tries at it, the seller may just reduce his/her asking price since it must have been overpriced to start with if no one bought it at "reserve". I know it wastes a lot of time, these reserves, but in all fairness to the seller (if they have an idea of value), they must put a reserve or possibly lose on the item. I'd rather gamble in the casino than at an auction <G>!!! Interesting thread, I'd like to see more opinions.