[Azselendor]

The purpose of the reserve price is to ensure the seller makes the minimum amount and also entice the buyer into bidding by creating the apperance of a lower price.

I went to a hard-wood furniture auction a few months back here in orlando and the seller was using reserve prices. A lot of people was rip with him because the auctioneer would close the auctions below the reserve price so he could get to other tiems, but we who bid on thos items and it was below the reserve got nothing.