asking price: meaning, definition, pronunciation and examples
B2Formal, Business, Commercial
Quick answer
What does “asking price” mean?
The initial price at which a seller offers something for sale, especially a house, car, or other property, before any negotiation.
Audio
Pronunciation
Definition
Meaning and Definition
The initial price at which a seller offers something for sale, especially a house, car, or other property, before any negotiation.
The stated or advertised price for an item or service, representing the seller's opening position in a potential transaction. It can also be used metaphorically to refer to the initial demand or requirement in a negotiation.
Dialectal Variation
British vs American Usage
Differences
No significant difference in meaning. The term is used identically in both varieties. Spelling follows local conventions (e.g., 'advertised' vs. 'advertized' in surrounding text).
Connotations
Neutral commercial term in both regions.
Frequency
Equally common in both UK and US English, particularly in property and automotive contexts.
Grammar
How to Use “asking price” in a Sentence
The [noun] has an asking price of [amount].They set/put an asking price on [item].We paid/offered [amount] below the asking price.Vocabulary
Collocations
Usage
Meaning in Context
Business
Standard term in sales, real estate, and mergers & acquisitions for the initial offer price.
Academic
Rare; might appear in economics papers on pricing strategies or market behaviour.
Everyday
Common when discussing buying or selling houses, cars, or major items.
Technical
Used in property listings, auction catalogues, and automotive sales platforms.
Vocabulary
Synonyms of “asking price”
Vocabulary
Antonyms of “asking price”
Watch out
Common Mistakes When Using “asking price”
- Using 'asking price' for non-negotiable items (e.g., a loaf of bread in a supermarket).
- Confusing it with 'market price' or 'value'.
- Using it as a verb (e.g., 'He is asking pricing it at...' is incorrect).
FAQ
Frequently Asked Questions
No. The asking price is the seller's initial requested price. The selling price is the final agreed amount, which is often lower after negotiation.
Yes, especially in competitive markets like real estate, buyers may offer 'over the asking price' to secure a property.
No. It is an invitation to treat or make an offer, not a binding contract to sell at that price.
An asking price is publicly advertised. A reserve price (in auctions) is a secret minimum price the seller will accept; the item will not sell if bids don't meet it.
The initial price at which a seller offers something for sale, especially a house, car, or other property, before any negotiation.
Asking price is usually formal, business, commercial in register.
Asking price: in British English it is pronounced /ˈɑːskɪŋ praɪs/, and in American English it is pronounced /ˈæskɪŋ praɪs/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “Pay over the asking price”
- “Get it for a song (opposite concept)”
Learning
Memory Aids
Mnemonic
Imagine a seller ASKING for a specific PRICE. It's the price they are asking you to consider, not the price you must pay.
Conceptual Metaphor
NEGOTIATION IS A JOURNEY (the asking price is the starting point).
Practice
Quiz
In which scenario is the term 'asking price' MOST appropriately used?