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.
Samuel Beckett, How It Is, Signed, Limited Edition:
Beckett, Samuel. How It Is. London: John Calder, 1964. Octavo, vellum, 160 pages. Top edge gilt. Faint foxing to foredge (see photos) and to slip case. Signed by Beckett on copyright page. This is #76 of 100 copies on handmade paper, in series A bound vellum, printed prior to the first edition. Also signed by the publisher on the title page. A very good copy.