UPSET (3)

Up″set′ (?), a. Set up; fixed; determined; — used chiefly or only in the phrase upset price; that is, the price fixed upon as the minimum for property offered in a public sale, or, in an auction, the price at which property is set up or started by the auctioneer, and the lowest price at which it will be sold. After a solemn pause, Mr. Glossin offered the upset price for the lands and barony of Ellangowan. Sir W. Scott.