What on Earth does "cheap at half the price" mean?
There has been a saying in American English: "Cheap at twice the price." This has traditionally been used to indicate that something is a great bargain.
"Cheap at half the price" is a humorous reversal of this statement. It is used to express contempt for the quality or price of an item, or both.
From http://www.phrases.org.uk/meanings/cheap-at-half-the%20-price.html:
Those, who suffer from literalism, faced with an item offered at half the usual price would expect it to be cheap - what isn't cheap if you halve its price? 'Cheap at twice the price', now there is a bargain.
The interpretation of this phrase has caused some debate.
(in Phrasefinder Bulletin Board):
- 'Cheap at half the price' is understood to mean 'reasonably priced' and if people understand that meaning why worry about logical niceties?
- It was never intended to be taken seriously and is a pun on the meaningful phrase 'cheap at twice the price', intended either humorously or in order to deceive.
- It is just an error made by people who meant to say 'cheap at twice the price' but didn't think hard enough about what they were saying.