upset price

American  

noun

1. the lowest price at which a person is permitted to bid for something being sold at auction.

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upset price British  

/ ˈʌpˌsɛt /

noun

1. another name (esp Scot, US, and Canadian) for reserve price

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Etymology

Origin of upset price

First recorded in 1805–15

Example Sentences

And finally any person or company was empowered to purchase land not exceeding 640 acres in one block for mining purposes, other than for coal or gold, at the upset price of 20s. per acre.

From Project Gutenberg

This sale consisted mostly of country lands, put up in lots of from seventeen to fifty acres, at the upset price of �1 per acre; 1,518 acres were sold at this last land sale.

From Project Gutenberg

Lands not sold at auction may afterwards be purchased at the upset price on payment of the whole purchase money.

From Project Gutenberg

The buyers press round the table of the official auctioneer; the upset price is named.

From Project Gutenberg

If two or more applications are made and there is no bid above the upset price, the first application takes precedence.

From Project Gutenberg