The term "No Reserve" has evolved within existing market places to be synonymous with a deal or a bargain. This is because No Reserve auctions don't have set reserve prices. The high bidder will win the item even if they bid just a penny. The word auction is defined in the Merriam-Webster Online Dictionary as a sale of property to the highest bidder. Putting a reserve price makes it a retail transaction. Furthermore a reserve price is invisible to the buyer and is only revealed once the buyer has exceeded that price which is normally set by the seller somewhere close to what they paid for it (retail). This can be a great waste of time and isn't in the true spirit of an auction. Connecting buyers who are looking for great deals to sellers who believe in true auctions is what NoReserve.com is all about.