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A group of Gen Z diners learned a tough and unexpected lesson in restaurant pricing after unknowingly ordering steaks labeled “MKT” – and ended up paying a hefty price.
A young woman named Aribella Menold posted a TikTok video about the ordeal in June. She was dining at a North Carolina restaurant with her siblings when they decided to order two steaks.
Their total bill came to $159, including a 3% credit card surcharge and 6.75% sales tax.
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The culprits, she said, were two 12-ounce New York strip steaks labeled “MKT” that ended up costing $52 each.
The total also included a $28 kale salad – including $11 for grilled chicken – and a $10 kid’s grilled cheese meal.
A viral TikTok lesson in restaurant pricing hit some siblings hard this summer after a steak dinner (not pictured). (iStock)
“POV: You didn’t know what ‘MKT’ meant on the steak menu and now you’re paying for it,” she captioned the video, which showed the dinner party’s stunned reactions.
Menold told Newsweek she thought the steaks would cost $20 or $30 at most.
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“Our grandpa ended up paying for it, which was so sweet of him,” said the 20-year-old college student.
Fox News Digital reached out to Menold for further comment.
On TikTok, the video drew reactions ranging from sympathetic to critical.
Two 12-ounce New York strip steaks labeled “MKT” (not pictured) turned out to cost $52 each – a price the diners only discovered when their bill arrived. (iStock)
“Eleven bucks to add grilled chicken is wild,” a money-conscious viewer observed.
“Unless you’re rich, don’t buy items off a menu if they don’t have a price,” one person advised.
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Another chimed in, “If you have to ask the market price, you can’t afford it. Just order something else.”
But the Gen Zers weren’t the only ones unfamiliar with the “MKT” designation.
“What does ‘mkt’ mean?” one curious user asked.
The group out for dinner (not pictured) assumed the steaks would cost around $20 or $30 each — not $52. (iStock)
“MKT means it’s a scam and they can charge you whatever they want,” a cynic replied.
But is market pricing a scam or is it a way for restaurants to stay in business while offering premium items?
“Don’t hesitate to ask the server for the price.”
Hal Lawlor, chief operating officer of Smokey Bones, a casual-dining chain that operates dozens of barbecue joints across the U.S., spoke to Fox News Digital about market pricing.
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Some restaurants choose market pricing because premium items “can vary significantly in size and price throughout the year,” the Florida-based business executive said.
“This fluctuation is influenced by factors such as seasonal availability, market demand and sourcing conditions,” he said.
“There should never be any surprises on the bill,” said one industry professional. (iStock)
Steaks and lobster rolls are just a few summer favorites that are often labeled “MKT” – and Lawlor reported that the size, cut and overall price of these types of meats “may change at the time of purchase.”
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He also encouraged customers to stay informed and not to be shy when it comes to asking the server how much a lobster roll or high-end steak costs.
“At Smokey Bones, our servers are trained to inform guests of the price of items marked as market price, so there are never any surprises on the bill,” he said.
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“If you find yourself at a restaurant that does not provide this information automatically, don’t hesitate to ask the server for the price.”
