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English definition of “reserve”

reserve

noun [C usually singular] (LOWEST PRICE)    /rɪˈzɜːv/ US  /-ˈzɝːv/ (also reserve price)
the lowest amount of money the owners will accept for something being sold , especially at auction (= public sale ): A rare Stradivarius violin failed to reach its reserve price (= no one offered to pay it) when put up for auction on Tuesday . We set/put a reserve of £50 on the picture .Costs and expenses
(Definition of reserve noun (LOWEST PRICE) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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