I say put a reserve on it.  I do all the time 
because I dont want to lose a terrible amount of 
money. When people list things on Ebay for the 
price they paid, it's very intimidating to 
bidders.  Seeing a cel with a starting bid of 250-
400$ is very scary, and unless it's an 
exceptional cel, like AMG or Lodoss, most people 
wont bid on it.  Id rather start the cel off at 
100$ or something, and put the reserve at what I 
paid for the cel.  I guess you cant win either 
way.  No one likes reserve auctions, myself 
included...hell, Im bidding on a cel on Ebay 
right now, and it's a really dumpy one, but it's 
a character I like.  I put in a max bid of a lot 
higher than I thought the cel was worth, and 
STILL the reserve was not met.  I figure, hey, oh 
well.  If this person bought the cel for higher 
than that, then good luck to them making it 
back.  It's really a double edged sword, no one 
likes to bid on things with reserve amounts, but, 
no one likes to lose money when selling either.  
So, think about it from both POV's :)  Good luck 
guys....I know I need it.