One of the mysteries of the English language finally explained.
1(in an auction) make a higher bid than a previous bid.‘I'd once seen him blithely overbid for a tiny James I miniature portrait’
- ‘Media hype and too much wine at dinner may lead a wealthy collector to overbid for a work at auction (but there must have been an underbidder).’
- ‘But this guy overbid me by something like 50% of my maximum bid.’
- ‘Knowledge is power, and that way you won't overbid.’
- ‘On the other hand, in his determination to secure the property, he may overbid by a margin greater than necessary.’
- ‘However, anecdotal stories are now appearing, suggesting that many people have figured this out, and overbidding for the sake of ‘winning’ is becoming less common.’
2(in competitive tendering, the auction at bridge, etc.) bid more than is warranted or manageable.
- ‘Work with a top-flight real estate agent who's seen several business cycles in the area, who can help you understand pricing trends there so you don't overbid.’
- ‘‘Now our larger competition is overbidding prices like crazy,’ he says.’
- ‘So canny employers are often willing to pay the finest foreign talent even more than they pay local talent - not underbidding for foreign talent, as nativists fear, but often overbidding.’
- ‘Presumably it is legal to expose an identical pair to begin with to make it more difficult for other players to overbid, or to overbid a single card directly with a triple, and so on.’
A bid that is higher than another or higher than is justified.
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