ASKED PRICE, the price which the owner of any property places upon it for the purpose of sale. A prospective buyer will usually make an offering price or "bid" at a lower figure. When the bid and asked price coincide, either through the purchaser's raising his offer to meet the asked price, or through the seller's reducing his asked price to meet the bid, or by a compromise price somewhere between the two, a sale may be consummated. On the stock and produce exchanges bid and asked prices are regularly quoted on all items, and such quotations are carried in the financial reports of the daily papers, on the ticker systems, and in other financial information media.