Video blog raking it in?

Wow, with one day left in the bidding, 5 ad spots on Rocket Boom are currently going for $16,000. Am I understanding correctly, though, that they’ve set a base (reserve) price that’s even higher than this? Sheesh I don’t understand money.

Update: I just followed that link again and it’s up to $30,000 now! And it says the reserve is still not met!