High Penny

High Penny

In auto sales, to increase a customer's monthly payment by less than one dollar (or the equivalent). For example, to raise the payment from $237.45 to $237.95 is to high penny a customer. High pennying may increase revenue significantly if done at high volume.
References in periodicals archive ?
As part of that examination, I present the results of an economic experiment that tested whether the behavior of auction participants, rather than their proclivity to gamble, can explain high penny auction revenues.
In general, the results from my experiment do not support the claim that high penny auction revenues are the result of gambling preferences.
The zinc business had unusually high penny blank shipments in 1993.
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