His guitar sold for £280 a year ago - the market is a bit more depressed now than it was then, but I'd still think that's the ballpark. Vintaxe's advice is good - but it's worth remembering that UK prices are still a little higher than those in the States.
As I said before, personally I always do 99p, no reserve auctions - regardless of what I hope or expect the instrument to sell for. Because of the inherent potentially massive risk of getting next-to-bugger-all for your guitar I would never actually recommend this - but I have observed that high start prices put bidders off, meaning that there's less of a last-minute scramble to drive up the final price. I'd avoid a BIN unless you are happy to accept a punter-enticing low price for the guitar - otherwise, you'll have to be lucky enough to find someone who's looking for your specific guitar.
I do think presentation is massively important - the best & most detailed photos you can take, as much honest information as you can provide. The item title needs to be very specific - use terms people will be using if they're searching for vintage Japanese guitars.
You do have to be circumspect about how you describe it though, since Ebay is getting increasingly inept at telling the difference between a copy and a counterfeit - your guitar is a copy of a Gibson ES175, however if you describe it as such in your title - Ebay will pull your auction for using a trademarked brand. It's fine to use those terms in the description, though. I also tend to run listings for 10 days, starting on a Thursday & finishing Sunday evening - typically Ebay's busiest time.
Anyway, as an example of what I'm talking about, this is a bass I sold a few months ago: Ebay item no. 120272445007
The pics were taken with a pretty cheap camera, in good natural light. The ones I used were chosen from about 40 I originally took - the beauty of digital photography! - and I cropped & resized them myself to retain clarity. If you upload large pics to Ebay & let the interface software resize them, they will look fuzzy & poor-quality. I paid a little extra to use Ebay's largest accepted image size (800 pixels) and 6 pics - but I think it's worth it.
The pink fluff is, of course optional. 
Jon.Statistics: Posted by Bassassin — Thu Sep 18, 2008 12:22 am
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