I looked into selling on ebay recently and jesus christ the fees are extortionate!
From my experience buying on ebay though, too high starting price is a bit of a killer unless you get lucky.
Lower priced auctions with no reserve will generate interest, a couple of guys will try their luck at silly prices dreaming that they might get lucky, and then some other guys will think that maybe they could get lucky with slihtly more realistic prices, and end up feeling each other out, some or all may give up or it will develop into a bidding war, and then the real serious offers will swoop in in the last 30 seconds.
The other strategy that seems to have some success is starting the bidding higher but still at a low price, low enough to attract people hoping they can get a bargain (rather than a steal), e.g just under (or maybe same as) your lowest acceptable reserve price. This will have fewer bidders overall but the bidders will be more serious about buying for a realistic price. If you do this then don't bother with a reserve price, it tends to put people off a little (removes the "maybe i can get lucky" element and early interest)
One thing to bear in mind though is that buyers and sellers can have different ideas of what something is worth, yet Ebay seems to be remarkably consistent in terms of what items end up selling for (started at 99p many items end up going for similar amounts). So the advice given above about checking out ebay for a few weeks prior to listing should definitely be listened to, so you can get an idea of the kind of prices people are going to be wanting to get the item for, and set your start price accordingly.
