Upset Price (Noun)
Meaning
(auction) the minimum price at which a seller of property will entertain bids.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The auctioneer announced that the upset price for the rare painting was $10,000, and no bids would be accepted below that amount.
- The seller set an upset price of $500,000 for the luxury mansion, which was significantly higher than its appraised value.
- The real estate agent warned potential bidders that the upset price for the property was non-negotiable and would not be lowered under any circumstances.
- The auction house established an upset price of $2,000 for the antique vase, which was a relatively modest amount considering its historical significance.
- The court ordered that the upset price for the foreclosed property be set at $200,000, which was the minimum amount the lender was willing to accept.