Top Definition
The "Price is Right" rule is used in any game or contest where the one closest to the target number without going over is the winner.
We all bet $25 each we could guess the fat guy's weight using the "Price is Right" rule.
by Joobilee71 April 01, 2007

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Abiding by the standards of the preliminary bidding and showcase rounds of the game show The Price is Right. Specifically, a guessing game participant tries to guess the value which is the closest to being correct without going over.
Example#1
Me: Dude, I got a game we can play; let's guess the price of people's crap on Antique Roadshow.
Joe: Alright. "Price is Right" rules!

Example#2
Me: Ok guys, try to guess how much I weigh.
Paul: 81.6 kilos! Ok, ok.. 180 pounds.
Joe: 201 pounds.
Me: "Price is Right" rules -- right?
Joe: Ya.
Me: OK, I guess 202.
Joe: You bastard!
Me: Alright, let's see... Damn! I'm 199!
Paul: Wow, dude, you're fat. But, hey.. I win!
Joe: F-that... I was closest, you were way off! Friggin' "Price is Right" rules...
by Jud R December 19, 2008

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