Ebay is a nightmare yet at the same time very useful. The fee's charged really add up if you sell regular. Be careful. But without ebay - katie wouldn't have sold the amount of mirrors she has. At craft fairs she hardly ever sold anyhting (stopped doing them now) but the mirrors flew out on ebay. She made thousands on it.
It always makes me laugh though - people always think they are getting a bargain on ebay - yet quite often you can get the items elsewhere for far cheaper. I have seen many things sell for more than they cost brand new, because of a bidding war between two or more bidders. They just want to win the item and pay no notice of the cost.
Obviuosly in your case its unlikely to go for more than when it was brand new 
If it sells to someone who doesn't pay - or that you dont like the sound of, you can always offer it to the people who were 2nd etc. just you offer at their highest bid. Just explain that the winner of the auction was a bad payer or what ever.