Lowering or removing your reserve price
As a seller, you can lower or remove the reserve price on an item by revising your listing in the Revise Your Item page in My eBay. You can lower the reserve price if:
The reserve price has not been met
There are at least 12 hours left on the listing
Lowering your reserve price
If you lower the reserve price below the high bidder's maximum bid, the high bidder's maximum bid is lowered to $1.00 below the new reserve price. Bidders are notified of the new reserve price by email and must bid again to confirm interest in the item. The high bidder must bid again at or above the new reserve price.
Removing your reserve price
If you remove the reserve price, the reserve price is lowered to $1.00 above the current high bid. Bidders are notified by email, and must bid again to confirm interest in the item. The next bid that is placed will meet the new reserve price. This is done to confirm that the high bidder is still interested in the item.
If you remove or lower the reserve price, you won't receive credit for the difference in the reserve fee.
Within eBay Motors vehicle categories, reserve prices can be lowered on listings with less than 12 hours left in the auction.