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

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

Valued at £5m it was bought via a private treaty sale for a significantly reduced price in memory of former gallery director John Bradshaw.

From BBC • Jul. 17, 2013

Lorenzetti's painting is valued at £5m: that was knocked down to £1.6m through a private treaty sale.

From The Guardian • Jul. 16, 2013

This private treaty is known in history as "The Engagement."

From Sketches of the Covenanters by McFeeters, J. C.