starting price: meaning, definition, pronunciation and examples
C1Formal/Commercial
Quick answer
What does “starting price” mean?
The initial price at which an item, property, or service is offered for sale or auction before any bids or negotiations.
Audio
Pronunciation
Definition
Meaning and Definition
The initial price at which an item, property, or service is offered for sale or auction before any bids or negotiations.
The baseline, minimum, or opening figure quoted for a commercial transaction, often in contexts like auctions, retail, financial markets, real estate, and gambling.
Dialectal Variation
British vs American Usage
Differences
The phrase is identical and fully standard in both varieties. 'Reserve price' (the minimum price a seller will accept at auction) is a closely related term used in both regions.
Connotations
In both regions, it implies a potential for increase (at auction) or negotiation (in retail/sales).
Frequency
Slightly more frequent in UK/Australian/NZ English in the specific context of horse racing/gambling (the odds of a horse at the beginning of a race), but the commercial sense is equally common.
Grammar
How to Use “starting price” in a Sentence
The [auction/item] has a starting price of [amount]They set the starting price at [amount]Bidding began well above the starting price.Vocabulary
Collocations
Examples
Examples of “starting price” in a Sentence
verb
British English
- The auctioneer will start the bidding at £100.
American English
- They started the auction at a price of $500.
adjective
British English
- The starting-price favourite won the 3:30 race at Newmarket.
American English
- He was the starting-price favorite in the Kentucky Derby betting.
Usage
Meaning in Context
Business
The starting price for the new software license is set at £5,000 per user.
Academic
In auction theory, the choice of starting price significantly influences the final revenue.
Everyday
The starting price for the car on the website was £8,000, but we managed to negotiate it down.
Technical
In a Dutch auction, the starting price is set high and is systematically lowered until a bid is received.
Vocabulary
Synonyms of “starting price”
Strong
Neutral
Weak
Vocabulary
Antonyms of “starting price”
Watch out
Common Mistakes When Using “starting price”
- Using 'start price' (incorrect, must be 'starting price').
- Confusing 'starting price' with 'market price' or 'recommended retail price (RRP)'.
FAQ
Frequently Asked Questions
No. The starting price is the price at which bidding begins. The reserve price is a confidential minimum price the seller must achieve for the sale to proceed. The starting price can be below the reserve.
In fixed-price retail, the 'starting price' is essentially the asking price, which may be negotiable. In auctions, the starting price is not negotiated; it's the opening bid level, but bidding then negotiates the price upward.
No, 'start price' is considered non-standard or informal. The correct fixed phrase is always 'starting price'.
The 'hammer price' or 'final bid'—the price at which the auctioneer's hammer falls, signifying the sale.
The initial price at which an item, property, or service is offered for sale or auction before any bids or negotiations.
Starting price is usually formal/commercial in register.
Starting price: in British English it is pronounced /ˈstɑːtɪŋ praɪs/, and in American English it is pronounced /ˈstɑrtɪŋ praɪs/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “All bids must meet or exceed the starting price.”
- “It sold for many multiples of its starting price.”
Learning
Memory Aids
Mnemonic
Think of a race: the STARTING line is where the price begins its journey towards the finish line (the final selling price).
Conceptual Metaphor
COMMERCIAL TRANSACTION IS A RACE (the price 'starts' and then moves). VALUE IS A POSITION ON A SCALE (the starting point is low on the scale of potential value).
Practice
Quiz
In which context is 'starting price' LEAST likely to be used?