asking price

IPA/ˈɑːskɪŋ praɪs/
IPA/ˈæskɪŋ praɪs/

asking price — noun

1. the sum a seller hopes to get for an item they are offering, most often a house,

1.nounB1
Definition

the sum a seller hopes to get for an item they are offering, most often a house, land, or another big purchase; buyers commonly bid less than this figure and negotiate down.

Example

The asking price for the flat was NT$15 million, so we started negotiation from there.

asking price + for + [item]

Renata decided to set the asking price slightly above what she actually expected to receive.

set the asking price

Common collocations
  • asking price of
  • below the asking price
  • above the asking price
  • lower the asking price
  • set the asking price
  • meet the asking price
Synonyms
  • list price

    more general term for any advertised price, not limited to seller's expectation

  • sticker price

    informal, used especially for cars and retail items

  • starting price

    emphasises that negotiation is expected to begin from this point

Antonyms
  • selling price

    the actual amount paid, which is often lower than the asking price

Grammar Patterns

asking price + of + [amount]

below/above + the asking price

Usage Note

The asking price is the starting point for negotiation; the final price a buyer pays is often lower and is called the sale price or selling price.

Common Mistakes

The asking price of the car is too much for me to afford it.
The asking price of the car is too high for me.
'high' or 'low' collocate with 'price', not 'much' or 'little'.

2. the officially published or advertised price of an item, as shown on a listing,

2.nounB2
Definition

the officially published or advertised price of an item, as shown on a listing, a price tag, or an auction notice; this is the price at which the item is formally offered to the public.

Example

An online listing showed an asking price of 850 dollars, but the item later sold for 920 at auction.

asking price of + [amount]

Baraka offered two thousand pounds below the asking price, and the shop owner accepted immediately.

below the asking price

Common collocations
  • original asking price
  • at an asking price of
  • listed at an asking price
  • above the asking price
Synonyms

Grammar Patterns

asking price + of + [amount]

at an asking price of

Usage Note

Unlike sense 1, which focuses on the seller's internal expectation, this sense refers to the published or advertised figure that buyers see. The published asking price may exceed or match the seller's actual target.

Common Mistakes

The asking price is very cheaper than the market value.
The asking price is much lower than the market value.
'cheap' is not used with 'price'; use 'low' or 'reasonable'.

Word family

Synonym discussion

Sense: noun/1

All four terms refer to prices set before a sale, but they differ in context and flexibility. An asking price is set by a seller and is open to negotiation — buyers routinely offer less. A list price is the manufacturer's or retailer's suggested price and may be discounted but is not typically negotiated one-on-one. A sticker price is an informal term for list price, commonly used for cars and consumer goods. A reserve price is the minimum price a seller will accept at auction; if bidding doesn't reach it, the item is not sold. For example: 'The car's sticker price was $30,000, but the dealer offered it at $27,000.' 'The painting had an asking price of £5,000 at the gallery, but at auction its reserve was only £2,000.'

asking price ↗list pricesticker pricereserve price

Common collocations

Nouns

Adverbs

  • well above
  • well below
  • slightly above
  • slightly below
  • far above
  • far below

Phrases

  • asking price of
  • below the asking price
  • above the asking price
  • meet the asking price
  • lower the asking price
  • set the asking price
  • cut the asking price
  • reduce the asking price
  • offer below the asking price

Prepositions

Etymology

Old EnglishLatinEnglish

The compound 'asking price' dates from the late 1800s in American and British real estate and auction contexts. It combines 'asking' (from Old English 'ascian', meaning to request or demand) with 'price' (from Latin 'pretium', meaning value or worth). The term reflects the idea that the seller is 'asking' for a particular amount, rather than having it set by a fixed pricing system.

First known use

1755

1755, in the meaning defined above