by 
The Curious Bag
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Ebay's ease of use and low cost have made it a world standard in the buying and selling of new and used products. One option that the site uses to smooth out transactions is the reserve.
Description
A reserve price is the lowest price at which you want to sell your item. If none of the bids meet or exceed that price, the item remains unsold and is returned to the seller.
Reasons
This price prevents an item from being sold at far less than what it's worth. However, this can frustrate users and lower the number of bids, since potential buyers do not know the price you require for your sale.
No reserve
"No reserve" means that an item contains no minimum cost. That is, whoever puts in the highest bid, no matter the amount, wins the item.
Advantage
Though "no reserve" may let your item go for less than what it's worth, it tends to increase bidding activity since buyers know that any amount they bid is acceptable.
Tip
As a seller, you can get the best of both words by setting a reserve price but telling the user what that price is either in the description or when the user inquires. As a buyer, you can negate any disadvantage of a reserve by emailing the buyer and asking him what that price is before you bid.
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