Overbidding: meaning, definitions and examples
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overbidding
[ ˌoʊvərˈbɪdɪŋ ]
bidding process
Overbidding refers to the act of bidding more than necessary in an auction or negotiation, often leading to higher prices than what may be justified. This can occur in various contexts such as real estate or online auctions, where competitive bidders drive prices up excessively. While overbidding may reflect a strong desire to acquire an item, it can also result in buyer's remorse if the final price exceeds the item's actual value.
Synonyms
excessive bidding, high bidding, inflated bidding.
Examples of usage
- She regretted her overbidding at the property auction.
- The car market is rife with overbidding during peak season.
- Overbidding can lead to financial strain for many buyers.
- Many collectors faced overbidding in the art auction.
Translations
Translations of the word "overbidding" in other languages:
🇵🇹 oferta excessiva
🇮🇳 अधिक बोली
🇩🇪 Überbietung
🇮🇩 penawaran berlebihan
🇺🇦 перебільшена ставка
🇵🇱 przebicie
🇯🇵 オーバービディング
🇫🇷 surenchère
🇪🇸 sobreoferta
🇹🇷 aşırı teklif verme
🇰🇷 과도한 입찰
🇸🇦 العطاء المفرط
🇨🇿 překročení nabídky
🇸🇰 prebidovanie
🇨🇳 过高出价
🇸🇮 preseganje ponudbe
🇮🇸 ofurboð
🇰🇿 артық ұсыныс
🇬🇪 გააჭარბა
🇦🇿 şişirdilmiş təklif
🇲🇽 sobreoferta
Etymology
The term 'overbidding' originates from the combination of the prefix 'over-', meaning more than necessary, and the verb 'bid', which derives from the Old English term 'byddan', meaning to offer or to command. The concept gained prominence with the rise of auctions in medieval times, where bidders would offer increasing amounts for goods and properties. As auction practices evolved, the term became widely used in economic and real estate discussions, especially marked in the 20th century. Overbidding has always been a concern in competitive markets, prompting discussions on its psychological and financial implications for buyers. Today, it serves as a cautionary term in various transaction scenarios, emphasizing the importance of being informed and reasonable in bidding strategies.