upset price

noun

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

upset price

/ ˈʌpˌsɛt /

noun

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

Word History and Origins

Origin of upset price¹

First recorded in 1805–15

Example Sentences

Among the members of the Assembly in 1867-8 was Mr. Archibald Archer, of Gracemere, then member for Rockhampton, who earnestly voiced the popular contention that the upset price of �1 per acre was excessive, and that the holdings permitted to the settler by law were too restricted in area.

From Project Gutenberg

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

Despite any statute to the contrary, country lands, not within twenty miles of a railway or the permanent survey of one, or of any navigable stream, were authorised to be sold by auction in areas of 320 acres to 5,120 acres, at the upset price of 10s. an acre.

From Project Gutenberg

Up′set, an overturn.—adj. relating to what is set up for sale, in phrase Upset price, the sum at which anything is started at a public sale.—ns.

From Project Gutenberg

The upset price was �100 per acre, although much more was realised for some lots.

From Project Gutenberg