diff --git a/rfcs/reference-pricing.md b/rfcs/reference-pricing.md
new file mode 100644
index 0000000..c86df7a
--- /dev/null
+++ b/rfcs/reference-pricing.md
@@ -0,0 +1,18 @@
+---
+slug: reference-pricing
+title: Reference Pricing
+state: super-draft
+id: null
+repo: null
+proposed_by: ben.stull@wiggleverse.org
+proposed_at: '2026-06-03'
+graduated_at: null
+graduated_by: null
+owners:
+- ben.stull
+arbiters: []
+tags:
+- commerce
+---
+
+A reference price is any comparison a listing shows against its current selling price — a struck-through "was" price, a "compare at", an implied discount — and it is a factual claim about the past, not a persuasion device. This RFC defines Reference Pricing so that a displayed former or comparison price must reflect a genuine prior selling price for that good, never a fabricated anchor invented to manufacture the appearance of a discount. It refines Price and applies Wise Speech in Commerce and Agency & Anti-Manipulation to one specific deception — inventing the "before" in order to sell the "after" — and so protects a Human's ability to judge a deal on true information.