[Porch Dweller]

I do both, but mostly the first choice. I check out the retail price then choose what I consider a fair offer and use that as my reserve. If it wins, good, if not, try again.

For folks that are new to the auction sites: most of the items are recurring offers. So don't feel like you have to win the item you're bidding on or you'll never get that chance again. Set your reserve, stick to it, and if you don't win check back in a couple of days and you'll usually see the item listed again.