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I've seen a couple like this recently too, perhaps from the same seller. I think in part it's down to the price they charge for just listing as a buy it now as opposed to auction with buy it now. Also I think there is a minimum level of feedback required before you can just list as a buy it now and maybe the seller didn't have enough feedback to do so. It's a pain when the buy it now disappears after the first bid but if you list with a reserve the buy it now stays in place until the reserve is met. Also if you didn't know the minimum reserve on ebay UK is £50, on ebay .com it's something daft like $5.
 
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