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You can click on the help section of ebay to find out what reserved means. Basically, it means that the bid price has to meet the reserved price. Ex: the seller wants atleast $500 for that set of tires. The first bidder bid $400 and the last one bid $490. At the end of the day (whenever the time limit expired), nobody won because the reserved price has not met. You have to bid over the reserved price in order to win.

Hope this help
 
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