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1. : to give (a customer) a deceptively low price or cost estimate. 2. : to give a markedly or unfairly low offer. lowballed him in contract negotiations. lowball noun. Examples of lowball in a Sentence. It became clear that the contractor had lowballed us on the cost of materials. Management lowballed him in contract negotiations.
- What Is Lowballing?
- Understanding Lowball Offers
- Example of Lowballing
A lowball offer is a slang term for an offer that is significantly below the seller’s asking price, or a quote that is deliberately lower than the price the seller intends to charge. To lowball also means to deliberately give a false estimate for something. Usually, the potential buyer making the lowball offer is not actually expecting the seller t...
Lowball offers are most commonly used as a tactic to put pressure on a seller who might need to liquidate assets quickly. Alternatively, when negotiating a price, prospective buyers might begin negotiations with a lowball offer to gauge the seller's expectations of the asset’s fair value. This can give the buyer an advantage as the negotiations con...
In the LIBOR scandal during the financial crisisin 2008, banks in the U.K., including Barclays, Lloyds Banking Group, and Royal Bank of Scotland, kept LIBOR rates artificially low, by "lowballing” their LIBOR submissions. This false estimate not only helped them make a profit on their trading books but made them seem more creditworthy than they rea...
When you lowball someone, you attempt to buy something from them by offering a lot less money than it's actually worth. If you want to buy a car that you can't quite afford, you might decide to lowball. Whether you estimate something's value, make an offer to buy something, or try to hire a worker for a very small salary, you lowball.
verb [ T ] US informal uk / ˈləʊbɔːl / us. to calculate something at a price or level that is unfairly low : The campaign accused insurance companies of using computer programs designed to lowball claims and increase company profits. (Definition of lowball from the Cambridge Business English Dictionary © Cambridge University Press)
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lowball. verb [ T ] US informal uk / ˈləʊbɔːl / us. to calculate something at a price or level that is unfairly low : The campaign accused insurance companies of using computer programs designed to lowball claims and increase company profits.
: to trick or deceive (someone) by saying that the price or cost of something is lower than it really is. It became clear that the contractor had lowballed us on the cost of materials. 2. : to give a very low or unfairly low offer to (someone) Management lowballed him in contract negotiations.
The low-ball is a persuasion, negotiation, and selling technique . Overview. By buyers. When used by buyer, the low-ball is an offer for goods or services far lower than the price the buyer is willing to pay, made in the hope that the seller will at least counter-offer a price lower than the original asking price.
