hammer price
The term "hammer price" originates from the practice of the auctioneer striking a gavel to finalize the sale of an item.
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Definition
B2Auction
(general)The highest bid accepted for an item when the auctioneer signals the end of bidding.
Example
- The painting sold for a hammer price of $1 million.
C1Finance
(technical)The price at which shares of a defaulted trader are sold.
Example
- The hammer price for the defaulted shares was unexpectedly low.
Similar
Terms that have similar or relatively close meanings to "hammer price":