Outbidden - Definition, Meaning, and Examples in English

Definition

^{Context #1 | Verb}

bidding context

Outbidden refers to the act of placing a higher bid than someone else in an auction or competitive bidding situation. This term is most commonly used in real estate, art auctions, and online bidding platforms. The action of outbidding usually occurs when one party seeks to secure an item or property by offering a greater amount of money than the current highest bid. In many cases, outbidding can lead to a bidding war, resulting in the final price being significantly higher than the original price point.

Synonyms

outbid, outpace, surpass.

Examples of usage

I outbidden the other participants in the auction.
She was determined to outbid anyone for that rare painting.
The two buyers were outbidding each other repeatedly until the final price was reached.

Interesting Facts

Economics

In auction settings, bidders often 'outbid' one another, driving prices higher than the initial value due to competition.
The phenomenon can lead to what's called 'winner's curse', where the winner overpays due to impulse or competition pressure.

Social Dynamics

Outbidding can occur in social contexts as well, such as when one person tries to impress others by making better offers or showing off.
This behavior is sometimes tied to status and reputation, where individuals feel pressured to outbid peers to showcase their success.

Literature

References to outbidding appear in various literary works to illustrate competition in love, wealth, and desire, highlighting human nature’s competitive edge.
In Shakespeare's plays, the idea of outbidding can symbolize the plays' themes of ambition and rivalry.

Technology

In online auctions and bidding sites, algorithms can sometimes predict and set automated outbidding strategies, ensuring one party remains competitive.
E-commerce platforms have adopted dynamic pricing strategies that reflect outbidding in real-time as competitors adjust their offers.

Origin of 'outbidden'

Main points about word origin

The term combines 'out', meaning beyond or surpassing, and 'bidden', from the Old English 'bydian', which means to offer or command.
The use of 'bidden' has historical roots in auctions and competitive bidding, reflecting a long-standing practice in trade.

The term 'outbidden' is derived from the combination of the prefix 'out-' and the verb 'bid'. The prefix 'out-' typically means 'to a greater degree' or 'to exceed', while 'bid' originates from the Old English word 'biddan', which means 'to offer' or 'to ask'. The usage of 'bid' in commercial contexts can be traced back to medieval trading practices, where merchants would offer prices to acquire goods. As auctioning became a popular means of selling valuable items in the 18th and 19th centuries, the notion of outbidding emerged as participants would compete to secure items by offering higher amounts than their rivals. Thus, 'outbidden' encapsulates the competitive spirit of auctions and bidding in various markets.

Outbidden Meaning: Definition, Examples, and Translations