This might help:
Reserve Price Auction: ebay
Some auctions have a reserve price, a hidden minimum price, on their item.
How it works:
A reserve price is the minimum price a seller is willing to accept for the item.
As a buyer, you are not shown the reserve price, only whether or not the reserve has been met.
The seller is not obligated to sell the item if the reserve price is not met.
Reserve has two syllables, re'serve (pronounced, [ri'zrv]).
The winning bidder must meet or exceed the reserve price and have the highest bid. Read more here...
Does that help?