floor price

American  

noun

1. a minimum price required of an item being auctioned.

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Etymology

Origin of floor price

First recorded in 1950–55

Example Sentences

The surge in gold prices so far this year represents a combination of speculative investment, as well as institutional and national strategies to hedge against a diversification of currencies, as the constant pressure to accumulate the metal has established a floor price, sustaining the upward move.

From MarketWatch

In July, the Pentagon agreed to take a stake in rare-earths miner MP Materials in a surprise deal that included a floor price to guarantee stable cash flow.

From The Wall Street Journal

At its peak, the NFT floor price reached .86 Ethereum or about $2,800.

From Salon

Pudgy Penguins have maintained a floor price similar to its peak in January 2023, according to the NFT Floor Price website.

From BBC

India has set a floor price of $800 per metric ton minimum export price on onions up to Dec. 31, the government said on Saturday, in a bid to ensure adequate domestic availability and to stabilise prices.

From Reuters