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Think of it this way: you are still young, you have lots of time to throw yourself back into a business again later on, but not lots of time to be with your kids as they grow up and to make memories with your family that will last a lifetime. Those things can never be retrieved if you let them slip by unattended.
Why is it kids often say that some of the happiest times they had were when they went off on a family camping trip? Probably because they remember, among other things, having lots of close, "real" time with their parents.
Business is just business and can always be ramped up at a later date, in a different way if you like. You've now got the skill and experience, and I think you'd be surprised how transferable that knowledge is. I'd say just run your eBay business on a limited basis to keep your hand in and keep up with changes (if you plan to stay with eBay), and otherwise -- enjoy more of your life with your wife and family during these precious years, even if it means downsizing or doing without some frills.
Believe me, I probably speak for many of us who re-invented ourselves in our 50's and 60's -- you can start out on a completely new path if you like, even at that age, after you've done all the great stuff with your family in your middle years, but there's no getting that time back once it's gone.
Don't second guess yourself. When you reach 50, you'll look back and realize you made the right choice. Besides, slowing down a bit now will preserve your good health and make sure you do get to 50 and see your children all grown up.
You've made a good decision -- I hope we'll still see you on these boards though...
I always liked this saying by Dalai Lama, when asked what surprised him most about Humanity, answered: “Man. Because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health. And then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is never going to die, and then dies having never really lived.”
You made the right decision: family always, I mean always comes first.
It is important to set up a plan and a budget how you will move to a "hobby" type of online venture. It will not be as easy as making the decision to do it. Been there... done that.... grey hair to prove it.
You will need to make some important decisions as to "how much am I willing to lose on some of my inventory to get rid of it?"
How many hours a week will I work on my online business this week, next, the following, next month, the following....
Once you have completed the liquidation of most of your $100,000+ inventory - and then only - you will need to look into the tax consequences. Will you limit your future "hobby" sales to less than $30,000 a year? If so, do you want to cancel your GST/HST registration (it is expensive as you have to pay 13% HST on your inventory the day you cancel your registration as if you had sold it at cost)?
Also, keep in mind that even as a "hobby", whatever net profits you make are taxable from the first dollar. There is no exemption nor minimum.
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