Here are some pros and cons of puting a reserve on a auction.  A reserve is the minimal amount you are willing to sell your item for.

Pros

• Setting a reserve on a auction gives you the option to not sell your item unless it meets your reserve price.
• Reserve price can be altered even after you have recieved bids.
• Even if your reserve price is not met you can still send a second chance offer.
• If your item sells your reserve fee is refunded.

Cons

• Setting a reserve requires an additional fee which is refunded only if your item sells.
• It discourages bidders many buyers will not even bid on a auction that has a reserve.

Reserves are generally not a good idea because people will not bid on your item especially when other options are available.  The only time I recommend setting a reserve on an auction is if your item is unique or one of a kind.  If a buyer wants it they will have no other option but your auction therefore the reserve price can protect your investment in case bidding does not go high enough.  Please vote yes for my guide if it was helpful.  Thanks