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 ?
Yesterday's auction opened with a reserve price of BD25.
We believe the decision by the Bahrain's Judicial Committee for the Settlement of Stalled Real Estate Projects to reduce the reserve price to BD 25.
While an 11-bedroom Georgian house in leafy Ranelagh, South Dublin, went for [euro]770,000, well in excess of the reserve price of [euro]700,000.
The key issues raised in the consultation paper are quantum of spectrum to be auctioned, spectrum block-size and methods to be used for valuation and estimation of reserve price of spectrum.
There is a reserve price of PS25 million, so you are advised to start your bidding at that amount.
Nayar's Mumbai teammate and veteran opener Wasim Jaffer is also on the list at a reserve price of USD 50,000.
The reserve price fixed would be a disappointment for the telecom industry, with more than 900 million mobile subscribers, which had been pitching for a 80 per cent cut in the reserve price suggested by TRAI.
Because all legal checks are generally carried out before the auction date, you know it will be possible to sell your property if a bid over the reserve price is made at the auction.
Essex all-rounder Bopara attracted "fierce bidding" and was finally sold to Kings XI Punjab for EUR450,000, from a reserve price of EUR150,000.
The cap had been expected to fetch about pounds 8,000 at the Bonhams' Sporting Legends auction at Chester but a spokeswoman said the bidding did not reach the reserve price and it was unsold.
The cabinet has agreed in principle to sell off the land, if a high enough reserve price is reached, but first has to get permission from the government.
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