Definition
The clearing price, also called the market-clearing price, is the price at which the quantity of an asset sellers are willing to sell exactly equals the quantity buyers are willing to buy, so that a transaction actually executes with no unmet supply or demand remaining at that price.
In Panel Profits
In Panel Profits, the 'Clearing Price' is the actual, realized transaction price at which a specific certified comic changed hands in a given sale -- auction hammer price plus buyer's premium, or an agreed dealer sale price -- as distinct from an asking price, a listing estimate, or an FMV model output. Only clearing prices, not listings or asks, are eligible to update an issue's Fair Market Value benchmark or Liquidity Floor, since a listing that never sells reveals no actual point at which supply met demand.
Comic-market example
A CGC 9.6 copy listed at $12,000 that ultimately sells at auction for a $9,500 hammer price plus a 20% buyer's premium has a clearing price of $11,400 -- it is the $11,400 figure, not the $12,000 ask, that Panel Profits records as the observed transaction.
Calculation
Clearing Price = Final Hammer Price + Buyer's Premium (auction) OR agreed Sale Price (direct/dealer transaction)
Common mistakes
Do not treat an auction's opening bid, reserve price, or an unsold ('bought in') lot as a clearing price -- a lot that fails to sell has, by definition, no clearing price for that auction event.