Explanation: In auction terminology, a "reserve" or "reserve price" is the minimum price that the seller is willing to accept for an item being auctioned. The reserve price is typically set by the seller before the auction begins, and if bidding does not reach or exceed this minimum threshold, the item may not be sold. The purpose of a reserve price is to protect the seller from selling an item for less than they are willing to accept. However, the reserve price is not usually disclosed to bidders, which can add an element of uncertainty and excitement to the auction process. If bidding meets or exceeds the reserve price, the item is sold to the highest bidder at or above that threshold.