I had some experience with this scenario lately. I bid on a bridge-builders boat and was not the winner of the auction, and the posted high bid did not meet the reserve price. Two days after the auction was over, GL contacted me and wanted to know if i wanted to purchase the boat at my highest bid, which was about 15% less than the high bid. The gentleman on the phone told me that a lot of times when there is a reserve, it is a private seller and they will usually offer to the high bidder at his highest bid or at the reserve price. I guess in this case they really wanted to sell it and the high bidder didnt even want it at his high price. I have been bidding on GL and GP items for only about a year, but was heavy into ebay starting in 1996. The reserve price has always turned me off to bids and it still does today. I have listed thousands of items on ebay and never with a reserve. Only a few of those times did i get the shaft. Like someone said above, an item is worth as much as someone will pay for it and by trying to force a value to an item, a lot of times you end up eliminating interest in the item. People (myself included) bid on some items they don't even want just because there is a chance to win it at a good price. I even find myself bidding an item up that i don't want, just because i want to win the bid......