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