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.
Friedberg, Robert, GOLD COINS OF THE WORLD, 5th Edition, New York: The Coin and Currency Institute, Inc., 1980, pp484. Nice colorful dustjacket.
This large hardback reference book was bought from a local numismatic dealer in 1980 for a pricey sum of S$70.00. It was then sold in the mid-1980s to a good friend, but I'd bought back this book from this friend after 8 years.