An excessive or unfair price; charging an unreasonably high amount for something.
Originally referred to the literal practice of robbing travelers on public roads, which was common in 17th and 18th century England and America. Highwaymen would stop coaches and demand money or valuables. The metaphorical use comparing high prices to theft emerged in the 19th century.
The phrase taps into the historical fear of highway robbers like Dick Turpin and Claude Duval, who became folk heroes despite their criminal activities. The metaphor works because both highway robbery and excessive pricing involve taking someone's money through what feels like coercion - you need the product or service, just as travelers needed to use the roads.
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