When you post an auction listing, you can set a Starting Bid and/or a Reserve Price.
A Starting Bid is the least amount a bidder is allowed to bid in an auction, and is the price at which the bidding starts. If an auction has a Starting Bid and no Reserve Price, the high bidder on the item will win the item when the listing ends. Every auction has a Starting Bid, even if the Starting Bid is $.01.
A Reserve Price is the least amount you are willing to sell the item for. Bidders are not able to see your Reserve Price. A bidder can place a bid that is lower than the Reserve Price, but the item will not be sold until the bidding meets or exceeds the Reserve Price.
Reserve Price auctions are often unpopular with bidders because the Reserve Price is hidden, and they must bid until they meet or exceed this price. We recommend you set your Starting Bid to the least amount you will sell the item for, and let the bidding begin at that price. When priced fairly, the item will probably sell for a higher price than your Starting Bid.