reserve price

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Reserve Price

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.

reserve price

The price below which auctioned property will not be sold.If a property is advertised with reserve, then the owner may withdraw it from auction at any time before sale. If it is advertised without reserve,then the seller must go through with the auction.

References in periodicals archive ?
On average, most properties at yesterday's sale sold for 40% more than the reserve price, signalling a revival of the property market.
West Indies' World Twenty20 2012 winning captain and allrounder, Darren Sammy, will feature in the IPL Player Auction for the first time, with a reserve price of USD 100,000.
The new prices approved by Cabinet are up to 23 per cent lower than reserve price for pan-India spectrum (in 1800 Mhz band) suggested by TRAI for the auction.
The reserve price has to be carefully considered because a bid below it will not be accepted.
The Welsh international cap of footballer Billy Lewis which failed to reach its pounds 8,000 reserve price at auction
The reserve price figure is being kept under wraps .
Another misnomer is the reserve price, with the DVLA suggesting you can bag the registration of your dreams for just a couple of hundred pounds.
If after that period the money from entries is higher than the property's reserve price, Ms Miller will keep the money and the person with the best slogan will win the house.
MADONNA'S sexy underwear was sold for almost pounds 10,000 yesterday - TEN TIMES its reserve price.
Vendors will be able to lower, but not increase, a reserve price on the day of the sale.
They find that items with higher book value tend to be sold using a secret, as opposed to a posted, reserve price with a low minimum bid.
The owner can maintain a reserve price below which they will not make the deal.

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