Definition

1. Noun:
   • A sale of merchandise supposedly damaged by fire: A commercial event where goods are sold, often at a significant discount, because they are claimed to have been damaged or exposed to a fire.
   • A sale of assets at very low prices typically when the seller faces bankruptcy: A situation where assets, inventory, or securities are sold very quickly and cheaply, usually because the seller is under financial distress, such as facing bankruptcy or liquidation.

Usage Examples

• Noun:
  • The department store held a fire sale to clear out inventory that was smoke-damaged in a small electrical fire.
  • During the company's collapse, its assets were sold off in a fire sale, with valuable equipment going for pennies on the dollar.

Advanced Usage

• "to have a fire-sale mentality": To be in a state of mind where one is willing to sell anything valuable at a very low price to raise cash quickly, often due to panic or extreme financial pressure.
  • The panicked investors had a fire-sale mentality, dumping their stocks at any price.

Variants and Related Words

• Fire-sale prices (noun phrase): Prices that are extremely low, reminiscent of a distress sale.
  • They were offering the remaining furniture at fire-sale prices.

Synonyms

• Distress sale: A sale made under urgent financial pressure.
• Liquidation sale: A sale to convert assets into cash, often because a business is closing.
• Clearance sale: A sale to clear out inventory, though not necessarily under distress.

Idioms and Common Phrases

• "Everything must go!": A phrase commonly associated with fire sales and liquidation events, emphasizing the urgency and deep discounts.
  • The sign on the bankrupt store read "Everything must go!"—it was a classic fire sale.

Noun

1. a sale of merchandise supposedly damaged by fire
2. a sale of assets at very low prices typically when the seller faces bankruptcy