Reserve prices are often considered money wasted as you pay the fee regardless of whether the item sells.
It's better to start the auction at the minimum amount you want to receive for your item with a buy it now price that you'd consider good enough to be willing to sell early for.
As soon as someone bids the buy it now option vanishes - except in this case. Your use of a reserve means the buy it now option will remain in place until a bidder's maximum meets the reserve price.
There's no point removing the reserve price now if you've already added it and the listing has been submitted.
