overbid
verb [ I or T ]
FINANCE uk/ˌəʊvəˈbɪd/ usoverbidding | overbid | overbidto offer more money than someone in an attempt to buy something:
They were overbid by a Japanese firm.
to offer too much money in an attempt to buy something:
The Commission felt the company were overbidding and were not sure that they could raise the cash.
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underbid