I did a search on ebay for domains and it didn't look like there was a lot of bidding action. The bids that were made were well below $10 so I'm not sure that's the best route to unload your domains.
Give it a shot and see if it works. Put a high reserve on it and let it ride. If it's a high level domain then I'm sure you'll get some bites. Just don't think you're going to be making high $thousands or $millions.
I personally don't think FreePenisPics.com is a high level domain and $1500 a bit pricey. Remember, a domain name is only worth what someone is willing to pay regardless of appraised values. I would be surprised to see you unload FreePenisPics.com for the $1500 asking price.
