Steve... I am not advocating closing the sale once the opening bid is placed. So it is different than just placing the item up for sale on this board or other places. I just did some reviewing of my last 84 auctions. I thought the results were interesting:

84 TOTAL AUCTIONS:
16 Items did not receive my opening bid.
20 Items Sold for the minimum bid.
48 Items Sold for more than the minimum bid.
Of the 48 that sold for more than the minimum bid 20 sold for more than double the minimum bid, and the average for all 68 lots that were sold was 151% of the opening bid.

So based on this information this proves to me that the auction system does work! With an average of 151% over my minimum bids it is not like just putting them up for sale. But, does not waste the bidders time, that are looking for a "miracle" that is not going to happen!

Steve, you mention that if a reserve price is set, and not met after two auctions, you assume the price was too high and lower it. I do the same thing.. if no one bids my opening bid for two auctions in a row, I assume the same thing and lower my price. I do not see how this is any different than your reserve. Also you state that if you don't put a reserve or possibly lose on the item. How can you lose if your opening bid is a price you will sell for?

To each their own, but I think sellers that place a reserve on their item, will lose bidders because they don't want the hassle of the "reserve game". I personally hope many people continue with reserves, that way the people that don't want to play the guessing game will maybe bid on my stuff. At least they can look at my opening bid, and say to themselves "if I place a bid on this item over that amount and am lucky enough to be the high bidder, I WILL own it"!