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Overprice: meaning, definitions and examples

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overprice

 

[ ˌoʊvərˈpraɪs ]

Verb / Noun
Context #1 | Verb

in shopping

To set a price for something higher than its actual value, often leading to customers feeling cheated or unwilling to make a purchase.

Synonyms

inflate, mark up, price gouge.

Which Synonym Should You Choose?

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Word Description / Examples
overprice

This word is used when something is priced higher than it should reasonably be. It implies that the price does not match the perceived value or cost of the item.

  • The tickets for the concert were overpriced; he felt the restaurant was overpricing their drinks
inflate

This word can refer to a general increase in prices or costs over time, often due to economic factors. It can also refer to artificially increasing the price of a particular item.

  • The rapid inflation of housing prices is making it difficult to buy a home; businesses tend to inflate prices during the holiday season
mark up

This term is often used in business and retail to describe the practice of increasing the price of goods to achieve a profit. It is a neutral term and is part of normal business operations.

  • The store marked up the clothes by 50% to cover their costs and make a profit; it's common for retailers to mark up the prices before a sale
price gouge

This term has a negative connotation and is used to describe when sellers raise prices to unreasonably high levels, often during emergencies or shortages, exploiting customers' need.

  • The store was accused of price gouging during the hurricane; people were outraged by the price gouging of essential supplies during the pandemic

Examples of usage

  • The store was overpricing their products, so I decided to shop somewhere else.
  • If they continue to overprice their items, they will lose customers in the long run.
Context #2 | Noun

in business

The act of pricing something too high, resulting in a cost that is more than what is considered reasonable or fair.

Synonyms

exorbitant price, outrageous cost, unreasonable pricing.

Which Synonym Should You Choose?

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Word Description / Examples
overprice

This term is often used in a commercial context when a seller sets a price higher than what is considered fair or reasonable. It can have a negative connotation.

  • The store tends to overprice their electronics.
  • We decided not to buy the car because it was overpriced.
exorbitant price

Use this expression to strongly emphasize that a price is excessively high, often in a formal or critical context. It commonly suggests that the price is unreasonable and unjustifiable.

  • They charged an exorbitant price for the repair.
  • The hotel room came with an exorbitant price during the holiday season.
outrageous cost

This phrase is used to express shock or anger about a price being extremely high. It is informal and usually carries a very strong negative emotion.

  • The outrageous cost of the tickets made me reconsider my plans.
  • I'm not paying such an outrageous cost for a simple meal.
unreasonable pricing

This phrase is used in a variety of contexts to indicate that the price does not make sense given the quality or value of the product or service. It is slightly more formal and often used in discussions about fairness.

  • Their unreasonable pricing deters many customers.
  • The company's unreasonable pricing strategy led to a decline in sales.

Examples of usage

  • The overprice of the new phone made it unaffordable for many consumers.
  • The overprice of the tickets deterred people from attending the event.

Translations

Translations of the word "overprice" in other languages:

🇵🇹 superfaturar

🇮🇳 अधिक मूल्य

🇩🇪 überteuern

🇮🇩 harga terlalu mahal

🇺🇦 завищити ціну

🇵🇱 przepłacić

🇯🇵 過剰価格

🇫🇷 suralimenter

🇪🇸 sobrecargar

🇹🇷 aşırı fiyatlandırmak

🇰🇷 과대평가하다

🇸🇦 المبالغة في السعر

🇨🇿 předražit

🇸🇰 predražiť

🇨🇳 过高定价

🇸🇮 preceniti

🇮🇸 ofverð

🇰🇿 бағаны асыра бағалау

🇬🇪 გადასახადის გაზრდა

🇦🇿 qiyməti artırmaq

🇲🇽 sobrecargar

Etymology

The word 'overprice' originated in the late 19th century, coming from the combination of 'over-' and 'price'. It reflects the concept of setting a price higher than what is considered fair or reasonable. The practice of overpricing has been a common occurrence in various industries, leading to consumer dissatisfaction and debates over pricing strategies.

See also: overpriced, overpricing, precious, price, priceless, pricer, prices, pricey, underprice, underpriced.

Word Frequency Rank

At position #42,183, this word is among the less frequently used terms in English. While interesting to know, it's not crucial for most English learners unless needed for specific purposes.