Definition

Noun: - The price at which something is actually bought: The specific amount of money paid to acquire ownership of an item, property, or asset. This is the final, agreed-upon cost at the point of sale.

Usage

The term "purchase price" is used to specify the exact monetary cost incurred when buying something. It is a key figure in financial transactions, contracts, and accounting. - It is commonly used in contexts like real estate, vehicle sales, business acquisitions, and retail. - It distinguishes the actual selling price from other prices like the asking price, market value, or list price.

Examples

• Noun:
  • The purchase price of the house was $350,000.
  • We negotiated and agreed on a final purchase price for the car.
  • The contract clearly states the purchase price of the business.

Advanced Usage

• "At a purchase price of...": A formal phrase used to introduce the specific cost in documentation or reports.
  • The land was acquired at a purchase price of two million dollars.
• "Above/below the purchase price": Used to describe the current value of an asset relative to what was originally paid for it.
  • He sold the painting below its original purchase price.

Variants and Related Words

• Purchase (verb/noun): The act of buying or the item bought.
  • They secured financing for the purchase.
• Buying price (noun): A near-synonym for purchase price, often used in investment contexts.
  • The stock's current value is below my buying price.

Synonyms

• Cost: The amount that must be paid or spent to buy or obtain something.
• Acquisition cost: A more formal term, often used in business and accounting for the total cost to acquire an asset.

Related Phrases

• Full purchase price: Emphasizes the total amount paid, without deductions.
  • The refund will be for the full purchase price.
• Agreed purchase price: Highlights that the price was mutually accepted by buyer and seller.
  • The agreed purchase price is binding for both parties.

Noun

1. the price at which something is actually purchased