Sorry to sound pessimistic Craig, but as a relatively experienced Ebayer I wouldn't pay that much money to somebody with zero feedback - especially when the £50 starting price doesn't even match your reserve.
If I was you I'd wait until you've built up a couple of positive feedbacks before trying to sell the Ipod, that way more people are likely to be interested and won't be so 'put off'.
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We'll see
And i've reduced the starting price to £1 now