Or better yet...why not store it for down the road if/when you decide
to sell it?  I'd cover it and seal it watertight like with shrink wrap and
have it as an option for a potential buyer down the road.

A naive person would think this.
The psychology behind it is that people will see it and think "I'm not
letting that go  to someone else for 99 bucks", and the bidding begins.
Then it will sell for what it's worth. This process has been used many
times by successful marketeers. As long as you let as many forums know
that it's for sale, and as many people as you can, it will sell for it's
value. The opposite is also true.
If you set a higher reserve price, you "tend" to get a lower high bid.
The reason is people get frustrated trying to find the reserve price and
quit bidding. When this happens, you lose the bidding competition, and
you get a lower overall bid.
You could set your first bid at your lowest selling price, but this is
usually higher than will attract any real interest, and again lose your
bidding competition.

Know one has to try it if they can't stomach it, but it works, and I do
it all the time.
Clay

Yup, and you wonder why you get no respect.......

You haven't sold much on ebay have you?

I would guess that a reserve knocks out at least half the bidders.
Bidders are like feeding sharks, you have to get them into a bidding
frenzy.  A reserve takes the flavor out of the bait.

beekeep