Thanks for all the tips Wizard!
I remember noticing that auctions (on ebay or ubid for example)
with low starting prices often went higher, because people lost track of their goal price and even started bidding wars, which didn't happen early as much with auctions that started higher.
In addition I needed a reserve for this particular item
to protect me because:
1) This is my first time selling on ebay, and I know the bids will not be as high due to (0) feedback, as they would have been without it.
2) This is not something I can gamble on, since it is worth so much.
3) The dts decoder not working (right now) may cause it to sell lower, even though the only other IA-1z being offered (as of now) does not even have the dts (was an optional upgrade), and may still go for more (due to feedback etc)...
In any case, as you said, I will try to sell more stuff on ebay and build up some feedback, since my car might well be next...
PS: I forgot to add that people often judge an item's value but how many other people are bidding on it and how much people are bidding on it.
In other words, if an item is out there with a minimum bid of $600,
and nobody is sure it is worth more than $550, it might well have 0 bids, and newcomers to the item will also think twice and possibly pass.
If it starts at $425, with a reserve (hidden) of $600, I think there is more
of chance it will get to $600, when people get drawn in by the lower starting price and then might well start bidding wars - people might then feel others think it is an attractive item too, making think hey this is popular and I want this too...
Just my humble opinion on bidding psychology
As long as the item sells for what you or I want, whihc is the ultimate goal, I'll take either your approach or mine
I am not picky
I think there are many factors that come into play, so there isn't one single answer for all items being auctioned IMO.