Meaning of the word "starting price" in English

What does "starting price" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

starting price

US /ˈstɑːr.tɪŋ ˌpraɪs/
UK /ˈstɑː.tɪŋ praɪs/
"starting price" picture

Noun

the initial price at which something is offered for sale or auction

Example:
The starting price for the antique vase was $500.
Our services have a starting price of $99.