lowball

Verb

WordNet 3.0

make a deliberately low estimate“The construction company wanted the contract badly and lowballed”Synonyms: underestimate

lowball \lowball\ n. A poker game in which the lowest-ranking hand wins. [PJC]

lowball \lowball\ v. t. to give a deceptively low estimate of the price of (merchandise or services); -- a sales tactic to induce a person to buy.

Syn: underestimate. [WordNet 1.5]