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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’
- ‘But this guy overbid me by something like 50% of my maximum bid.’
- ‘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).’
- ‘On the other hand, in his determination to secure the property, he may overbid by a margin greater than necessary.’
- ‘Knowledge is power, and that way you won't overbid.’
- ‘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.
- ‘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.’
- ‘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.’
- ‘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.’
- ‘‘Now our larger competition is overbidding prices like crazy,’ he says.’
A bid that is higher than another or higher than is justified.
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