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under- +‎ quote



underquote (third-person singular simple present underquotes, present participle underquoting, simple past and past participle underquoted)

  1. (transitive, intransitive) To give a quotation that is too low, or is lower than that offered by others
    • 1936, Printing (volume 60, page 28)
      Many a salesman is told that the opposition has underquoted him. To the live-wire salesman this is no signal of defeat. If he conducts a showdown then and there, as likely as not he will find that he has not really been underquoted if value is considered.
    • 1993, American Lutherie
      If you underquote and call them back with a higher price, chances are they'll say to go ahead, but next time they have a repair, they may go to somebody else.