Quote Originally Posted by suits123 View Post
Reserve prices setting has been around since auctioning began. As a buyer I don't like reserve prices because it means I will have to pay a higher price. But as a seller I would never sell anything with out one. eBay is no longer a site for just good deals, but is a place that works as a worldwide auction house. Just my two cents. But I would never put anything up for auction worth $200 and let someone win it for $49.68.
Based on everyone's response, I'm getting an understanding of this but I'm still not a fan. Say I'm not sure what something is worth but I know I won't accept less than $XX for it. I'd put a reserve price and then I'm not obligated to sell if it actually only ends up at < $XX.

In the case that you know it's worth $200 as in your example, why not just ask $200 for it and not waste time on an auction? Or ask 300 and see if you get an offer?