What does "The buyer of last resort" mean?

[misscold]

Hi all,

My teacher asked us to translate a passage into our language. There is an idiom that I can't understand, it is "the buyer of last resort". I can't find it in any dictionary either.

Who can explain this phrase please? Thanks in advance :)

[BobK]

It's a very odd collocation. There is the expression 'lender of last resort'; (a central bank). I think this expression may have encouraged people to misinterpret the phrase 'of last resort', so that 'buyer of last resort' is being [ab]used to mean "customer/ultimate consumer/end-user".

b

[Gillnetter]

Hi all,

My teacher asked us to translate a passage into our language. There is an idiom that I can't understand, it is "the buyer of last resort". I can't find it in any dictionary either.

Who can explain this phrase please? Thanks in advance :)

To me it would mean that buyer who will buy at a lower price and one that you do not want to sell to. You will sell to this person but only if all the other buyers refuse to buy. It seems to be similar to the court of last resort - the final court you can appeal to.

[chevalier]

It's a very odd collocation. There is the expression 'lender of last resort'; (a central bank). I think this expression may have encouraged people to misinterpret the phrase 'of last resort', so that 'buyer of last resort' is being [ab]used to mean "customer/ultimate consumer/end-user".

Actually no. I have seen this phrase in "The Wall Street Journal":

Just as the problem of potential illiquidity can be addressed by lenders of last resort, so can the problem of potential insolvency be tackled by "buyers of last resort." By these I mean the treasuries and finance ministries that can buy preferred shares or warrants in the troubled financial institutions, thereby providing them with capital they have been lacking.

Source: A Buyer of Last Resort - WSJ.com

[BobK]

To me it would mean that buyer who will buy at a lower price and one that you do not want to sell to. You will sell to this person but only if all the other buyers refuse to buy. It seems to be similar to the court of last resort - the final court you can appeal to.

I get it. Thanks.

b