upset price(redirected from guaranteed maximum cost)
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The minimum price at which a seller of property will accept a bid at an auction.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
At an auction, the price below which the owner of the item may refuse to sell. For example, if the reserve price is $1,000, and bidding does not rise above $900, the owner may withdraw the item from the auction. The reserve price is also called the upset price.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
See reserve price.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.