A reserve price is the minimum price a seller is willing to accept for an item. If the bidding doesn't reach this price, they aren't obligated to sell the item.
Sellers might use a reserve price because it allows them to set a low starting price to generate interest and bidding, but protects them from having to sell their item at a price that they feel is too low.
Reserve prices are hidden to bidders.
If a reserve has been met, bidders will see “Reserve Met” next to the item price.