A price objection is when a buyer says the cost is too high, over budget, or not worth it. It is the most common objection in sales, and almost never means "the number is literally too big" — it usually means the value has not been proven enough to justify the spend, or the buyer lacks budget authority. The fix is rarely to discount immediately; it is to quantify the pain being solved and reframe the price as an investment.
In plain English
"Too expensive" is a reflex. Before you drop the price, find out what it really is: unproven ROI, a budget constraint, or a need for approval. Answer the value first, then negotiate if the price is genuinely the issue.
Why it matters to you
The first instinct is to cave — that is how margin dies. Reps who diagnose the price objection by reframing value protect both the deal and the price. When you do concede, do it from a walk-away price and ask for something in return. Handling price objections well is the skill that separates closers from order-takers.
For setting a value-anchored price before objections arise, see Price the Proposal.