upset price

noun
the lowest price at which a person is permitted to bid for something being sold at auction.

Origin:
1805–15

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
upset price (ˈʌpˌsɛt)
 
n
another name (esp Scot, US, and Canadian) for reserve price

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
No item will be sold for less than it's upset price plus the impound fees.
Sale must be for an amount equal to or more than the total upset price.
He will ask for bids from the floor at the minimum upset price.
The board shall conduct an appraisal of the public land for sale to determine
  the upset price.
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