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B HodesHigh (undisclosed) reserve Ebay auctions are a very cheap way to sell an item for a minimal price without any possibility of letting it go below a certain amount. If it doesn't sell you don't lose much and maybe one of the folks who saw the item (whether they bid on it or not) will follow up and meet your price.
Howver, I think if it's a one shot deal and you want maximum return on an a very high dollar rare card (e.g. Leon's 4 Base Hits Kelly)you are best off with one of the top auction houses -- Mastro, Lipset et al. In doing this you bear the risk that you won't get what you believe is even enough (let alone top dollar) but you will get a lot of long term exposure to a lot of potential buyers (even the longest ebay auction is just 10 days and while more people may see it almost all of those people are not potential buyers).
Using Ebay gives you control and you won't wind up selling it for less than you want -- buyt you also will probably not maximize return either.