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@Andrew
It's an auction. You start where you like and the market will price the item for you, ideally. So, say £400 is a good price, and £500 fair. Start low and the bids will take you up there. All you are doing with the high start price is putting people off bidding. Ebay says stats back this up, in the end, higher prices are achieved when a low starting price is given - although they would say that I suppose. But I have found it to be true in my experience.