Here we go. How ebay does it, from their help forums (because their own help doesn’t actually state it:

Q Posted:

when a auction ends and the reserve isnt met, why isnt the price upgraded to the maximum bid you set

A1 Posted:

Your max bid did not meet the Reserve, so no need to show it. Had your max bid met or exceeded the Reserve, it would jump to the Reserve.

A2 Posted:

Because no one else has bid any higher against you.The bidding war has to take it up to that amt. <<

True..EXCEPT that if you meet the reserve, the price will ‘jump’ to meet it. You don’t need another bidder to meet reserve.

Will point ET to this thread now as traditionally (i.e., in one other case) he changed Kyoubai to work like eBay.