What does pennies on the dollar mean?

Question

I have always heard it in movies but they move on too fast for me to process it.

In: Other

Answer 1

You are paying just pennies when the guy you are buying it from paid dollars.

Say, somebody buy a web site and pay $44 billions, but now if they wanted to sell it it would be worth much less, say just $2 or 3b, they would essencially pay just a few pennies for every dollar of the $44 billion that was paid by the first guy.