Anchors tell a graphic where to stay in relation to other items.
Anchor to page
Anchoring a graphic to the page allows it to be positioned in a specific place on the page. The graphic does not move when cells are added or deleted. This is equivalent to an absolute reference. The graphic will always stay by cell B10 if that is where it is placed.
Anchor to cell
Anchoring a graphic to a cell ensures that the graphic always stays with the content it is originally anchored to. If a graphic is anchored to cell B10, and a new row is inserted, the graphic will then be anchored to cell B11. This is equivalent to a relative reference.
For example, in the example below, the normal Otto and Tux picture is anchored To Cell B10 (XXX shows where the picture is anchored). The inverse Otto and Tux picture is anchored to the page.
If two rows are inserted above the pictures, the normal picture will shift down two rows and the anchor will change. The inverse picture will not move. This is illustrated below. Note that the anchor symbol and the XXX have moved down to cell B12.