prebid
/priˈbɪd/
verb
- To submit a bid before the official bidding process begins, often in auctions or contract negotiations.
- The company prebid on several government contracts last quarter.
- The contractor decided to prebid on the project to secure an early advantage.
- In some online auctions, you can prebid before the live event starts.
noun
- A bid submitted before the official bidding period.
- The seller was pleased with the number of prebids on the property.
- The auctioneer accepted a prebid of $5,000 for the painting.
- All prebids must be received by noon on Friday.