UPSET PRICE Meaning and
Definition
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The term "upset price" refers to the minimum amount or bid set for an item or property to be sold at an auction. It represents the lowest price at which the seller is willing to accept offers, ensuring that the item is not sold for an amount that is deemed too low. The purpose of the upset price is to protect the seller's interests and provide a fair starting point for potential buyers.
In an auction, potential buyers may place their bids to acquire a particular item. However, these bids must meet or exceed the upset price for the seller to consider them. If no bids equal or surpass the upset price, the item may not be sold or can be withdrawn from the auction altogether.
Setting an upset price allows the seller to control the price range within which the auction will proceed. By establishing a minimum threshold, the seller can avoid selling an item for a value that is considered too low or below their expectations. The upset price provides a baseline or reference point from which the auctioneer or seller determines the incremental bidding process, gradually increasing the price until a suitable offer is reached.
Overall, the upset price plays a pivotal role in auction dynamics, ensuring that both the seller's interests and market value are protected while establishing a fair and competitive environment for potential buyers.
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The price at which houses, lands, or goods are exposed to sale by auction, forming a set or fixed sum from which increased offers may begin.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for UPSET PRICE
- ypset price
- hpset price
- jpset price
- ipset price
- 8pset price
- 7pset price
- uoset price
- ulset price
- u-set price
- u0set price
- upaet price
- upzet price
- upxet price
- updet price
- upeet price
- upwet price
- upswt price
- upsst price
- upsdt price
Etymology of UPSET PRICE
The term "upset price" originated in the mid-18th century and has its roots in the world of auctions and sales. The word "upset" in this context refers to the idea of setting a minimum or starting price for an item to be auctioned. The concept behind an upset price is to ensure that the seller does not sell an item for an amount lower than their desired value. If the bidding does not reach the upset price, the item remains unsold. Thus, "upset price" essentially means the minimum price at which an item can be sold at an auction, preventing it from being sold at a price lower than anticipated by the seller.
Similar spelling word for UPSET PRICE
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