User Activity

Are we able to sell Tiffany Jewellery that has been gifted from an unwanted suiter?
I have listed on Auction and after 3 bids, the value is under $4. The value of the item is closer to $200. Can I intervene and change to buy it now?
Can I change an Auction price once the process has commenced? I listed at .99 cents and my concern is that the reserve is too low.