floor price

noun
a minimum price required of an item being auctioned.
Also called reserve price.


Origin:
1950–55

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
Contractors cannot place a bid that is less than the floor price.
They enhance the income-stabilizing capacity of quotas by providing a minimum
  or floor price for each grade of leaf.
The program also guarantees growers a floor price and a market for flue-cured
  and burley leaf.
If the retail price calculation doesn't yield the floor price the price will be
  increased to the floor level.
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