Heat oil in a large nonstick skillet over medium-high heat. Sprinkle duck with 1/4 teaspoon salt. Add duck to pan; cook 3 1/2 minutes on each side or until medium-rare or desired degree of doneness. Remove from pan; keep warm.
Add shallots to pan, and sauté 1 minute. Add 1/4 teaspoon salt, preserves, brandy, and cherries, and cook 2 minutes or until slightly thick.