Upset Price

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Upset Price

The dollar amount below which property, either real or personal, that is scheduled for sale at an auction is not to be sold.

An upset price is intended as a minimum price. In a decree for a Judicial Sale, it constitutes a direction to the officer conducting the sale not to accept any bid that falls below the fixed price. In a final decree in a foreclosure sale, an upset price should be sufficient to cover costs and allowances made by the court, the certificates and interest of the receiver, and any liens in existence.

References in periodicals archive ?
Three separate buyers bid for the three-bedroom apartment on Parliament Street, Temple Bar, which sold for [euro]355,000, more than 75% over the reserve price of [euro]200,000.
The new prices approved by Cabinet are up to 23 per cent lower than reserve price for pan-India spectrum (in 1800 Mhz band) suggested by TRAI for the auction.
The reserve price has to be carefully considered because a bid below it will not be accepted.
The Welsh international cap of footballer Billy Lewis which failed to reach its pounds 8,000 reserve price at auction
While it is true that a handful of plates go for the reserve price, they are exceedingly rare.
But if the level of entries is insufficient to cover the property's reserve price, Ms Miller will keep her house and the winner will receive all the money from entries, minus a 20 per cent administration and marketing fee which goes to the web site.
However, Elton John's rhinestone jumpsuit went unsold, having failed to meet its $10,000 reserve price.
Open-access advocates had hoped for mandated wholesale access and net neutrality, but it is likely that more restrictions would have damaged the attractiveness and value of the spectrum block, which has a reserve price of approximately $4.
The recommended base price is about four times higher on per MHz basis when compared to reserve price for the last 3G auction.
New Delhi, Dec 10 ( ANI ): The Union Cabinet has approved the finalization of the reserve price for auction of spectrum in 1800 MHz band for all service areas and for 900 MHz band in Metro service areas of Delhi, Mumbai and Kolkata.
Also: Olympic Torch Day 39, carried by Ben Parkinson, the most severely wounded soldier to survive Afghan war pounds 3,019 and St Louis 1904 bronze participation medal: Reserve price pounds 20,000.
Before bidding process a reserve price would be fixed by the finance wing on the basis of previously auctioned plots, CDA always reserved the right to reject the bid which doesnt meet the reserve price, he added.
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