Definition

Noun: 1. The minimum acceptable price for an item being sold at auction: The "upset price" is the lowest price a seller is willing to accept for an item put up for auction. If no bid meets or exceeds this price, the seller is not obligated to sell the item.

Usage

The term is used primarily in the context of auctions, both formal and informal. It sets a financial threshold below which a transaction will not occur. - It is often set by the seller before the auction begins. - It may or may not be disclosed to potential bidders.

Examples

• In an auction context:
  • The painting had an upset price of $10,000, but the highest bid was only $8,500, so it remained unsold.
  • Before the estate auction, the family agreed on an upset price for the antique furniture.
  • The auctioneer announced that the upset price for the classic car had been met, so the sale could proceed.

Advanced Usage

• Reserve Price: In many auction systems, especially online, the term "reserve price" is more commonly used than "upset price." They are functionally synonymous.
  • The item was listed on the auction site with a hidden reserve price (upset price) to ensure it wouldn't sell for too little.

Variants and Related Words

• Reserve Price (n.): A synonym for upset price, very common in modern auction terminology.
• Minimum Bid (n.): Can sometimes be used similarly, though it may technically refer to the starting bid for the auction, which could be lower than the secret upset/reserve price.
• Opening Bid (n.): The first bid placed in an auction; distinct from the upset price.

Synonyms

• Reserve price
• Floor price
• Minimum selling price

Antonyms

• Hammer price: The final, winning bid price at which an item is sold.
• Final price

Noun

1. (auction) the minimum price at which a seller of property will entertain bids