I’ve been notified that I can purchase a lot even though my last bid was below the reserve price. Why is this?

For certain lots that do not reach their reserve price during the auction, it is now possible to buy the lot for your highest bid. This is an option that sellers are given when the last bid falls just below the reserve price that they set for the lot. Not all sellers choose to accept this feature, hence you will not receive this offer for all lots that you place the highest bid on. If you accept the deal, the usual payment process will follow.