what does it mean if something is 'a steal'?

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That means it's offered for sale at a very very very very good price. The price may be so good because the owner doesn't know what it's actually worth, or because they're having a super-duper temporary sale, or because it's something you personally need very badly so it's worth a lot more to you personally. In any case, it's called a 'steal', because when something is stolen, the stealer gets what he wants for a very very very low price, and this is just like that.

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