diff --git a/frontend/src/pages/MarketView.tsx b/frontend/src/pages/MarketView.tsx
index 0fb0093..d743c0c 100644
--- a/frontend/src/pages/MarketView.tsx
+++ b/frontend/src/pages/MarketView.tsx
@@ -1678,16 +1678,28 @@ const RateMatrixTab: React.FC = () => {
                         ? formatCurrency(rate.last_available_rate)
                         : null
 
-                      // For sold-out / past: show last known available rate with strikethrough
+                      // Rate text + strikethrough logic:
+                      //   Sold out + last price → "SOLD" label above + strikethrough price (no badge)
+                      //   Sold out, no history  → "Sold" text only
+                      //   Past + last price     → strikethrough price (grey/faded badge)
+                      //   Past, no history      → —
+                      //   Available             → live rate + coloured badge
                       let rateText = ''
                       let strikethrough = false
+                      let showSoldLabel = false
                       if (!rate) {
                         rateText = ''
-                      } else if (isSoldOrPast && lastAvailRate) {
+                      } else if (isSoldOut && lastAvailRate) {
                         rateText = lastAvailRate + staleMark
                         strikethrough = true
-                      } else if (isSoldOrPast) {
-                        rateText = isSoldOut ? 'Sold' : '—'
+                        showSoldLabel = true
+                      } else if (isSoldOut) {
+                        rateText = 'Sold'
+                      } else if (isPast && lastAvailRate) {
+                        rateText = lastAvailRate + staleMark
+                        strikethrough = true
+                      } else if (isPast) {
+                        rateText = '—'
                       } else if (isAvailable && rate.rate_gross) {
                         rateText = formatCurrency(rate.rate_gross) + staleMark
                       } else {
@@ -1699,7 +1711,7 @@ const RateMatrixTab: React.FC = () => {
                         rate.breakfast_included ? 'Breakfast incl.' : null,
                         rate.free_cancellation ? 'Free cancel' : null,
                         rate.rooms_left ? `${rate.rooms_left} left` : null,
-                        lastAvailRate && isSoldOrPast ? `Last available: ${lastAvailRate}` : null,
+                        lastAvailRate && (isSoldOut || isPast) ? `Last available: ${lastAvailRate}` : null,
                         rate.scraped_at ? `Scraped: ${new Date(rate.scraped_at).toLocaleString('en-GB', { day: '2-digit', month: 'short', hour: '2-digit', minute: '2-digit' })}` : null,
                         isStale ? 'Not updated in latest scrape' : null,
                       ].filter(Boolean).join(' | ') : ''
@@ -1724,19 +1736,31 @@ const RateMatrixTab: React.FC = () => {
                         }
                       }
 
-                      // Price index badge for competitor rows (use last_available_rate for sold/past)
-                      const rateForIndex = isSoldOrPast ? rate?.last_available_rate : rate?.rate_gross
+                      // Price index badge:
+                      //   Sold out → no badge (price no longer bookable, delta misleading)
+                      //   Past     → grey/faded badge (historical context only)
+                      //   Future available → coloured badge
+                      const rateForIndex = isPast ? rate?.last_available_rate : (!isSoldOut ? rate?.rate_gross : null)
                       let priceIndexBadge: React.ReactNode = null
                       if (hotel.tier === 'competitor' && rateForIndex && ownRateByDate[d]) {
                         const delta = Math.round((rateForIndex / ownRateByDate[d]! - 1) * 100)
-                        const bg = delta > 5 ? '#dcfce7' : delta < -15 ? '#fee2e2' : delta < -5 ? '#fef3c7' : '#f1f5f9'
-                        const fg = delta > 5 ? '#16a34a' : delta < -15 ? '#dc2626' : delta < -5 ? '#d97706' : '#64748b'
-                        priceIndexBadge = (
-                          <span style={{ fontSize: 9, fontWeight: 700, color: fg, background: bg,
-                            borderRadius: 4, padding: '0 3px', lineHeight: '14px' }}>
-                            {delta > 0 ? '+' : ''}{delta}%
-                          </span>
-                        )
+                        if (isPast) {
+                          priceIndexBadge = (
+                            <span style={{ fontSize: 9, fontWeight: 600, color: '#94a3b8', background: '#e2e8f0',
+                              borderRadius: 4, padding: '0 3px', lineHeight: '14px' }}>
+                              {delta > 0 ? '+' : ''}{delta}%
+                            </span>
+                          )
+                        } else {
+                          const bg = delta > 5 ? '#dcfce7' : delta < -15 ? '#fee2e2' : delta < -5 ? '#fef3c7' : '#f1f5f9'
+                          const fg = delta > 5 ? '#16a34a' : delta < -15 ? '#dc2626' : delta < -5 ? '#d97706' : '#64748b'
+                          priceIndexBadge = (
+                            <span style={{ fontSize: 9, fontWeight: 700, color: fg, background: bg,
+                              borderRadius: 4, padding: '0 3px', lineHeight: '14px' }}>
+                              {delta > 0 ? '+' : ''}{delta}%
+                            </span>
+                          )
+                        }
                       }
 
                       const showEye = !isPast && !!bookingUrl && !!rate
@@ -1762,6 +1786,9 @@ const RateMatrixTab: React.FC = () => {
                           onMouseLeave={onCellLeave}
                         >
                           <div style={{ display: 'flex', flexDirection: 'column', alignItems: 'center', gap: 1 }}>
+                            {showSoldLabel && (
+                              <span style={{ fontSize: 9, fontWeight: 700, letterSpacing: '0.05em', color: '#d97706' }}>SOLD</span>
+                            )}
                             <span style={{ textDecoration: strikethrough ? 'line-through' : 'none' }}>
                               {rateText}
                             </span>
@@ -1849,7 +1876,7 @@ const RateMatrixTab: React.FC = () => {
       <div style={styles.legend}>
         <span style={styles.legendTitle}>Legend:</span>
         <span style={mergeStyles(styles.legendItem, styles.matrixCellAvailable)}>Available</span>
-        <span style={mergeStyles(styles.legendItem, styles.matrixCellSoldOut)}>Sold Out (strikethrough = last rate)</span>
+        <span style={mergeStyles(styles.legendItem, styles.matrixCellSoldOut)}>Sold Out (SOLD + strikethrough last rate if known)</span>
         <span style={mergeStyles(styles.legendItem, styles.matrixCellNoRate)}>No Rate</span>
         <span style={mergeStyles(styles.legendItem, styles.matrixCellPast)}>Past</span>
         <span style={mergeStyles(styles.legendItem, styles.matrixCellEmpty)}>No Data</span>