At eBay we have various types of listings.

1. Sellers may set a reserve price on their listings. The reserve price is the lowest price at which a seller is willing to sell an item. The reserve price is never disclosed to bidders. In order for a bidder to win the listing, he or she must not only have the highest bid, but the bid must meet or exceed the reserve price that the seller set. If the reserve price is not met, neither the seller nor the high bidder is under any further obligation. Find out more about how to set a Reserve Price.
2. A private listing is a listing where bidders' email addresses will not be disclosed on the item screen or bidding history screen. Only the seller and the high-bidder will be notified via email when the auction is over.
3. Dutch auctions are a special listing format where a seller has multiple, identical items he or she wishes to sell. The seller specifies the minimum price (the starting bid) and the number of items available. Bidders bid at or above that minimum for the quantity they are interested in purchasing. At the close of the auction, the highest bidders purchase the items at the lowest successful bid.
   
   

For more information on the listing formats, see our Listing Format FAQ.