Nobody knows except software engineers who work for Ebay, but I believe listings of German sellers on Ebay.de will always be given priority over Bulgarian or Chinese sellers for example. However, I noticed that on Ebay.com that is not the case at all because you see all these Swedish, Canadians and Chinese sellers taking over everyone.
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I rarely see "international sellers" at the top of search listing ranks.
I would presume the best chances of exposure would be to be registered in the country you will be listing on, simply because eBay wants customers to get their item quickly, and international sellers couldn't offer that.
That's just from my experience though.
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More intresting is whether some nationalities enjoy greater trust than others? So far I have not heard of a blacklisted countries in eBay.
I was watching German seller /5 years old acc/ for more than a year selling alot of items. After that all listings was pulled out. DSR was bad about shipping time mostly and few negative feedbacks.
May be they do not make a difference from what nationality we are, imo.