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I'll bid on reserve auction. Like Kaisen says, there's no downside to a buyer - just bid your price and you'll either get it or not. As Belushi said, "Don't cost nothing."
As a seller, I'm almost always willing to roll the dice with no reserve, though. I've found in my experience that in general, items sell for higher when there's no reserve. Even on a $1000 item, I'll usually start at 99 cents, no reserve.
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