A reserve price is the least a seller will accept. Set a reserve price.
It is kept secret, and the lot is withdrawn if the bidding does not reach it. A reserve price set too high loses the room's interest before the bidding starts.
1nounreserve priceThe least a seller will accept.
“The painting failed to meet its reserve price by a hundred pounds.”
reserve price is a price.
Practised in Antiques & Collecting