Ray Trace Chrome

Hit the standard button in the Material Map browser and pick Raytrace

Tip: make sure to browse from New as shown here:

Make diffuse = black

See specular and glossy settings below

Put some image to reflect in the environment slot, if there is nothing in the scene to reflect. Try looking in the maps/background folder for lakedusk.jpg.

The screen shot uses Lakerem, but you can also use this one in the backgrounds folder in maps:

Turn on supersampling (find this rollout lower down.)

Put a falloff in the reflect slot by clicking on the Reflect slot and selecting Falloff:

Falloff settings – select Fresnel and make the top color a very light gray

Add a few red boxes to see if you can make them reflect. Tip: add target spotlights aimed at the boxes for a good result.

Bonus: Studio setup

Throw a spotlight with shadows on the model:

Matte shadow on a plane beneath the teapot to cast a transparent shadow:

Environment background, a gradient ramp with noise: