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Reserved / Minimum Price. A minimum price has been set for this type of auction. Meaning that if the auction never reached the "minimum price" required, there will not be a winner.
Reserve Price / Minimum Price
The minimum amount that the seller will accept for the item(s) being sold. This price is not disclosed to the Bidders. However, once a Bid (or Limit Bid if applicable) meets or exceeds the Reserve Price, the Bid form will indicate that "the reserve has been met" 
For Standard Bidding items with a Reserve Price, there are several important scenarios described below where a Limit Bid is accepted. For Traditional Bidding items with a Reserve Price, please refer to the examples in the Traditional Bidding definition.
If a Bidder enters a Limit Bid which meets or exceeds the Reserve Price, which has not previously been met, then the Current Bid on the Listing will automatically increase to the reserve amount.
Example 1: The current Bidholder holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder places a Limit Bid of $100, the Current Bid will increase immediately to the $100 Reserve Price.
Example 2: The current Bidholder holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder places a Limit Bid of $120, the Current Bid will increase to the $100 Reserve Price and the High Bidder's Limit Bid will be $120.
Limit Bidding does not apply prior to reaching the Reserve Price.
Example 1: The current Bidholder, A, holds the Bid at $50 for a Listing that has a Reserve Price of $100. If the next Bidder, B, places a Limit Bid of $80, the Current Bid will increase to $80 for high Bidder B. Note that the reserve on the item has not been met.
Example 2: The Bidding opens at $50 for a Listing that has a Reserve Price of $100. If the first Bidder, A, places a Limit Bid of $70, the Current Bid will increase to $70. Note that the reserve on the item has not been met.
Limit Bidding does apply after reaching the Reserve Price.
Example 1: The current Bidholder, A, holds the Bid at $90 for a Listing that has a Reserve Price of $100. If the next Bidder, B, places a Limit Bid of $120, the Current Bid will increase to $100, the Reserve Price, for high Bidder B who has an undisclosed Limit Bid of $120. In this case, the reserve on the item has been met.
Example 2: The current Bidholder, A, holds the Bid at $120 for a Listing that has a Reserve Price of $100 and a minimum raise of $10. If the next Bidder, B, places a Limit Bid of $150, the Current Bid will increase to $130 ($120 + the min raise of $10) for high Bidder B who has an undisclosed Limit Bid of $150. The reserve has already been met.
A High Bidder may raise his/her own Current Bid, prior to reaching the Reserve Price, without placing the minimum acceptable Bid.
Example 1: The current Bidholder, A, holds the Bid at $60 for a Listing that has a Reserve Price of $100 and a minimum raise of $10. If Bidder A places another Limit Bid of $65, the Current Bid will increase to $65, for high Bidder A. The reserve on the item has not been met.