Well, most of us anyway.

This terrific article about a study of eBay buyers and sellers proves it. In some categories, more than 40% of the auctions went for more than the Buy it Now price. Hmmmm. Two tips from the end:

• Set low opening prices. When choosing between identical items, buyers
  seem to favor whichever auction has the most bids. The best way to grab
  early bids: Start with a cheap price. By the time a $1 DVD auction
  reaches $10, it will probably attract more newcomers than a DVD that
  started at $10.
• Don’t use secret reserves. A study of online auctions with and without
  hidden minimum prices showed that many buyers steer clear of items with
  a secret opening price. It’s like that old shopping joke, "If you have
  to ask how much it costs, you can’t afford it."