It doesn't have a reserve on.
If it did, it would state 'reserve not met'.
Your item does have a bid on so there may be a penalty if you cancel and relist.
A reserve price is not the same as a 'buy it now' price which is not valid after a bid has been made.
Reserves carry a fee of 4% of the reserve price set. You will have to pay this fee even if your listing doesn't sell.
Why not start it at the lowest price you would be happy to sell for?
Details of all fees here:
https://www.ebay.co.uk/help/selling/fees-credits-invoices/fees-private-sellers?id=4822&st=3&pos=1&qu...
"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Søren Kierkegaard, Danish philosopher (1813 - 1855)
