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.
From Katherine's Collection of holiday decorations - a deluxe box of 6 different old-fashioned Victorian era Santa Ornaments -made of resin and hand painted these ornaments look they were made in the early 1900's - each has tinsel and other embelishments added. Some look like old-fashioned Father Christmas lights - with a screw base on top. Very unique.