Definition of reserve price in English:
The price stipulated as the lowest acceptable by the seller for an item sold at auction.
- Sellers choose the duration of the auction and a reserve price - the lowest price they'll accept - that is kept secret.
- Standard practice is to look for at least a 10 per cent uplift on the guide price, indicating a reserve price around €7 million.
- All the properties in our auctions have a reserve price at least 20% below the market price.
Definition of reserve price in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Spain
Most popular in Malaysia