private treaty

American  

noun

1. a property sale based on terms resulting from a conference between buyer and seller.

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private treaty British  

noun

1. a sale of property for a price agreed directly between seller and buyer

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Etymology

Origin of private treaty

First recorded in 1855–60

Example Sentences

A decade later, he bought hat-trick hero Hurst's number 10 top via a private treaty when it failed to reach its £300,000 reserve at Sotheby's.

From BBC • Dec. 16, 2022

It advertises the Sappho fragment for sale by private treaty.

From The Guardian • Jan. 9, 2020

He usually markets his cattle by private treaty, but prices have fallen after hitting record highs and not as many producers are turning out the smaller cattle this year.

From Washington Times • Feb. 17, 2017

The following year, Sotheby’s arranged a private treaty sale for “about $10 million,” Sotheby’s said.

From New York Times • Oct. 26, 2016

"Oh, they've all been sold by private treaty," replied Mr. Portlethorpe.

From Dead Men's Money by Fletcher, J. S. (Joseph Smith)