You can get converters to step down from 220 to 110 for small appliances that are low amp. To go up to 220, as lenweber2 said, you will need an electrician to wire you a 220 outlet, or you can tie into one if you have one for your dryer.
Amazingly enough, a 220 is made by combining two 110 lines. I'm not kidding. I did it myself last year with a little over-the-phone tutorial from someone who knows more about it than I do.
Similarly, if you had a 220 outlet, and needed a 110 nearby, you could tie into it using only one of its lines -- in most cases.
Neat stuff.
I'm not a certified electrician, but none of this is all that hard. If you can't return your compressor to ebay, and if your living situation allows it, your best bet is to call an electrician, or if you have a friend who's ever worked in construction, they could probably wire you one pretty easily.
We have a novice in our monastery who is an electrical engineer. He's working in Denver today, but if you really want your compressor to work on 110, if it can be done, he could probably do it. But it'd have to wait until he gets back late tonight to even ask him about it.
Hope this helps.