Given that you already have bids on the item you can't make any revisions to the listing. The reserve option is really nothing more than a way for eBay to milk sellers for even more money per listing, as they will still charge you for having used it, even if the item doesn't sell. Therefore, whenever you list something for sale using the Auction format start the bidding at the lowest price that you would be happy to accept if you only received one bid, making sure that you add to your asking price another 10% to cover the amount that eBay will take from the selling price when they take their cut of the money, and then take into account PayPal's cut of the final selling price by adding on another 3% of the amount of your asking price plus 30p for processing the payment. Once you have added both of those amounts onto the starting price for the item you should get closer the amount that you actually wanted for the item, even if only one person bids. If, however, the item attracts a lot of interest and receives several bids then you could stand to make a lot more money than you actually expected to get from the sale, which would be a nice bonus if the listing did end that way and the winning bidder didn't mess you about and paid within an acceptable timeframe for the item.
