underbid
/ˌʌndərˈbɪd/
noun
- A bid that is lower than another bid or lower than what is needed.
- His underbid of $200 was too low to win the auction.
- An underbid can sometimes be a smart strategy if you are patient.
- The seller rejected the underbid because it was far below the reserve price.
verb
- To offer a lower price than someone else, especially in an auction or competitive bidding situation.
- If you underbid the asking price, the seller might still accept your offer.
- The contractor underbid all other companies to get the construction project.
- She underbid her rival at the art auction and won the painting.
- To bid too low, resulting in a loss or failure to win a contract.
- The company underbid the job and ended up losing money on the materials.
- He underbid on the antique vase, so someone else bought it for a higher price.
- Be careful not to underbid when you estimate the cost of the renovation.