underˈquote,v. [under-1 8 b.] trans. To quote a lower price than. 1891Engineer 20 Feb. 156 In some instances merchants have been underquoting makers to the extent of 2s. 6d. to 5s. a ton.1897Westm.Gaz. 9 Sept. 8/1 The American competitors..are always ready to underquote the official prices.