Yes, auctioneers can set reserve prices and minimum bids for items during a live webcast auction. Reserve prices are the minimum price at which the auctioneer is willing to sell the item, and if the bidding does not reach the reserve price, the item may not be sold. Minimum bids are the lowest starting bid allowed for an item, and bidders must meet or exceed the minimum bid to participate in the bidding process. These features are available in live webcast auction software, enabling auctioneers to set reserve prices and minimum bids to ensure fair and profitable auctions.