fire sale

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A fire sale is the sale of goods at extremely discounted prices, typically when the seller faces bankruptcy or other impending distress. The term may originally have been based on the sale of goods at a heavy discount due to fire damage. A fire sale may or may not be a closeout, the final sale of goods to zero inventory.

In professional sports, a fire sale occurs when a team trades many of its veteran players, especially expensive star players, to other teams for less expensive and usually younger players. Teams usually have a fire sale for financial reasons. The term is generally thought of as separate from merely "rebuilding" a team, because during a rebuilding process, teams often obtain players who are already in the major leagues or who are close to being major-league-ready, while retaining at least some of their key veterans (such as a franchise player) while also getting players from their minor league system. On the other hand, trades in a fire sale often result in a team receiving draft picks and prospects who have little to no major-league experience in their sport, in exchange for proven, experienced veterans. The term comes from the perception that the team is trying to get rid of all its players.

History

In Proceedings of the Fitchburg [MASS] Historical Society and Papers Relating to the History of the Town Read by Some of the Members the following entry is found:

In December, 1856, the account of an extensive fire in the American House mentions the following occupants: E. B. Gee, clothing; T. B. Choate, drugs; J. C. Tenney, boots and shoes; Maraton Upton, dr\' goods; and M. W. Hayward, groceries. Maraton Upton removed his stock to No. 9 Rollstone block, and advertised "Extraordinary fire sale; customers are invited to call and examine goods which are still warm." ^[1]

According to Dictionary.com, the term originated in 1890-95 in New Zealand. The fire at Whitcombe and Tombs in Dunedin resulted in a "Fire Sale."^{[not in citation given]}

The term is also used in the movie Live Free or Die Hard, where it is used to refer to a complete take over of the countries infrastructure, using only computers.

See also

• Suggested retail price
• Crassus

References