verb(overbids, overbidding; past and past participle overbid) [no object]
1(In an auction) make a higher bid than a previous bid.
- Knowledge is power, and that way you won't overbid.
- 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).
2(In competitive bidding, the auction in bridge, etc.) bid more than is warranted or manageable.
- 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.
- 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.
A bid that is higher than is justified.
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