Correction, we no longer have a separate minimum bid and separate reserve. There is one price set by the seller - this is the Reserve. Auctioneers often use this figure as a starting bid, but not always. Sometimes an auctioneer will choose a lower price as a starting bid to generate more action on an item, but the item will not be sold for less than the Reserve price set by the seller.
Live Auction items have one reserve price. It will have an opportunity to be sold by an auctioneer on stage. If it does not sell (and you selected the option to allow it to go to the store) then it would be transferred to the store and will be available at that same reserve price. (The price stays the same regardless of day.)
Items that start out in the store, also have a Reserve (or minimum bid) price, but sellers can choose a different price point for each day if they would like to.