A reserve price is the minimum price the seller will accept. This price is hidden from bidders. To win, a bidder must have the highest bid and have met or exceeded the reserve price.
The magician threads a solid brass nut onto a length of cord. The only way off the cord is its ends - until the magican goes to work.
With a spectator holding both ends of the cord tightly, the magician removes the nut from the cord with the greatest of ease. Then he hands the nut out for examination.
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