Cheap jack

Updated: Aug 20, 2021

A person who specializes in selling goods quickly by somewhat unorthodox means. He normally obtains a quantity of goods cheaply (bankrupt stock perhaps) and sells in the manner of an auctioneer either in the open air or in empty shop premises. He appears to sell items of value at ridiculously low prices initially in the expectation that this will enable him to sell the remainder of his stock without difficulty. He relies upon the gullibihty of his customers, and moves from place to place depending on circumstances and the police.

Reference: The Penguin Business Dictionary, 3rd edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.