I sometimes watch a buy it now because I want it but I'm not sure I need it or can afford it. Or sometimes I am looking for a cheaper one and I might be bidding on a cheaper one but if I don't win or the price goes up too much I'll come back to the buy it now. I don't think you need to reduce the price.
I watch "buy it nows" for one reason. That is if the item interests me but I feel the price is too high, and hoping it gets lowered as sometimes happens. If you have 10 watchers it will sell, but you may require a re-list. My guess is that the price is considered too high for most people.
It's hard for me to say as it's not my "area of expertise". But as a seller I know that if you have 10 watchers, maybe 5 are actually interested in buying. One of them will finally give in. I would hold the price where it is. Less than half RRP price for a slightly used item seems reasonable. Never be in any rush to sell on eBay...I've made a lot of money with that policy! It will sell..be patient ;)
X post, agree some more info about the condition or pictures would be best. I have posted pics on another website & linked to the Ebay listing so that I can reduce fees. The problem with this ad is too little info about use, history, wear.
If it were mine and I wanted to daily reduce I would just cut £5 a day off for now on, that gets it down to just over £300 at worst. With BINs usually best to start with the highest possible price you hope to get & then gradually reduce to what you realistically expect. I've had good results with that tactic as long as it is a desirable item; much better profits than sending it to auction.
There is a reason lljkk, namely the hope it will go down in price. That has to be balanced against the risk that someone else will buy it before that happens. I know, because I make that decision several times a day! As I said, keep the price where it is, and maybe add a more detailed description of any flaws, with more pictures.