reserve price
Noun
Meaning
reserve price (plural reserve prices)
The price set by a seller in an auction, below which the lot or item cannot be sold.
Bidding did not reach the reserve price, so the lot was withdrawn.
Synonyms
Examples
Since the bids received during the e-auction of these mines were several times higher than the reserve price (almost 100 times), we will suitably increase the reserve price of these sand quarries,” he said.
Talking to The Tribune, Anil Joshi, Industries Minister, said they now proposed to increase the earnest money from 25 per cent to 50 per cent of the reserve price.
Bidding can also continue past the reserve price until the highest bidder has secured the property.
McFadzien said that a reserve price had been set on each of the lots.
The auction house did not say what the reserve price was.
The piano upon which Lady Gaga wrote her first song at the age of five was expected to sell for at least 100-thousand dollars but it failed to meet its reserve price.