Outbid

To offer a higher price or make a superior offer than another person or entity in a competitive situation, particularly in an auction or tender process. This action secures the item, contract, or opportunity for the bidder. It signifies the ability to exceed the valuation of a competitor, often strategically aiming to secure a desirable outcome. The outcome is achieving the successful acquisition or fulfillment of what is being bidded on. The act reflects an understanding of the value and strategic willingness to invest more than others.

Outbid meaning with examples

• At the art auction, wealthy collectors fiercely competed. After intense bidding, the museum had to outbid several private investors to secure the rare Van Gogh painting for their collection. The final bid was significantly higher than the initial estimates, reflecting the artwork's cultural significance and the museum's determination.
• During the construction project bidding, the local company was determined to win. Their strategy involved researching rival bids and identifying potential weaknesses to outbid their competitors by a marginal but decisive amount. This allowed them to secure the lucrative contract and begin work on the project immediately.
• The property developers planned on acquiring a new building lot. In the fiercely contested real estate market, a bidding war quickly erupted. The company strategized and increased the proposed price to outbid the rival developer and secure the prime location for the new construction project.
• To gain rights to the natural gas deposit, the state had to accept a bid to outbid the competing company. The company researched the area and made the winning bid. With the award, the winning company's stock surged and secured the company's place in the market.