It means the amount. one x would be $1-$9.
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1,300 monthly searches, so I would say $x or $xx as well because not that many people search for that keyword. However, if you created a auction site where people could auction off their college furniture, spirit items, or books, this would be a great brandable site. This would be an awesome site! Then it could be worth $x,xxx or more.
It needs to be developed or marketed with an idea like the one stated above.