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.
For auction I have this nice Couroc Bakelite Tray, with a farm house scene. Measures about 8 1/4 inches. It has a few minor scuffs. Nice tray. Bottom says Couroc Monterey California.