Reel to reel was the gold standard of professional and domestic audio recording from the 40s to the 80s. Some radio stations were even using till the early 90s.
Reels can vary in size, from 3 inch to 7 inch. They can have 4 tracks with 3-4 different recording speeds and are often reversed, so constant monitoring is needed. Very often the sound levels need to be adjusted also. Prices therefore are approximate.