Lowballed

To 'lowball' means to offer a price, bid, or estimate that is deliberately lower than what is realistically expected or deserved. This is often done with the intention of gaining an advantage, either to secure a purchase at a bargain price or to obtain a project or service with the expectation of later increasing the cost through add-ons or changes. Lowballing can damage trust and create a negative impression, especially if the final cost is substantially higher than the initial offer. It's a negotiation tactic sometimes seen as shrewd, but often viewed as dishonest or disrespectful depending on the context. It often involves an underestimation of the true cost or value involved.

Lowballed meaning with examples

• The contractor initially lowballed the estimate for the renovation, making it seem like a great deal. However, as the project progressed, unforeseen issues led to significantly increased costs, leaving the homeowners frustrated and feeling tricked by the initial deception. The final bill was far from the promise.
• During the salary negotiation, the company lowballed the candidate, offering a base pay significantly below the industry average for the role and experience level, hoping the candidate would accept out of desperation or a misunderstanding of their worth in the market. The offer was clearly not reasonable.
• When selling his classic car, the buyer lowballed the seller, offering a price far below its market value, even considering its excellent condition. The seller quickly declined the offer after realizing the buyer was attempting to take advantage of his urgency to sell and knowledge of collectible pricing.
• The insurance company lowballed the payout for the damage to the car, providing an amount that would barely cover the repairs. This tactic is used to decrease expenses. The insured party felt shortchanged, especially when their car was totaled, given the damage.
• The website developer lowballed the initial quote for designing the e-commerce platform, attracting the client with a seemingly cheap price. The client was then bombarded with change orders for the original scope, which were presented as unavoidable for the functionality the client originally sought.