diff --git a/app/models/spree/price.rb b/app/models/spree/price.rb
index 0c2d12c285..9fcdac6459 100644
--- a/app/models/spree/price.rb
+++ b/app/models/spree/price.rb
@@ -38,6 +38,7 @@ module Spree
 
     # strips all non-price-like characters from the price, taking into account locale settings
     def parse_price(price)
+      return nil if price.blank?
       return price unless price.is_a?(String)
 
       separator, _delimiter = I18n.t([:'number.currency.format.separator',
diff --git a/spec/models/spree/price_spec.rb b/spec/models/spree/price_spec.rb
index 441a7a185b..047d5da268 100644
--- a/spec/models/spree/price_spec.rb
+++ b/spec/models/spree/price_spec.rb
@@ -34,5 +34,25 @@ module Spree
         expect(variant.reload.price).to eq 10.25
       end
     end
+
+    describe "#price=" do
+      subject { Spree::Price.new }
+
+      context "with a number" do
+        it "returns the same number" do
+          subject.price = 12.5
+
+          expect(subject.price).to eq(12.5)
+        end
+      end
+
+      context "with empty string" do
+        it "sets the price to nil" do
+          subject.price = ""
+
+          expect(subject.price).to be_nil
+        end
+      end
+    end
   end
 end