Arthur Millner: The auctioneer generally starts quite a little bit below the reserve price and the reserve is the price below which the seller doesn’t want to let the object sell. If there is somebody who’s seriously interested in the object and starts bidding, the auctioneer will bid against him up to the reserve price. And then after that it’s simply a matter of the buyers competing against each other for the object. reserve (price) - je cena, kterou před aukcí stanoví prodejce, cena pod kterou nechce jít. Dražit se začíná malinko pod nejnižší stanovenou cenou bidding - činit nabídku (dražitel zvyšuje cenu, až to dotáhne na reserve price, potom už se mezi sebou přebíjejí nabídkami kupující)