Bidding

Bidding

Bidding is an offer (often competitive) of setting a price one is willing to pay for something. A price offer is called a bid"'. The term may be used in context of auctions, stock exchange or card games.

"Bidding up" means rising a price for an item by a series of rising bids. It may be unlawful, if done by a group of persons with an interest in rising the price. ["Black's Law Dictionary"] In traditional auctions, bidding up is a natural course of events. Since 1990s, with the emergence of online auctions, reverse auctions gained popularity, in which the traditional roles of buyers and sellers are reversed, and the goal of bidding is to drive the price down, similar to bid shopping practice of selecting a contractor to do a job.

ee also


*Bid price
*Bidding fee scheme
*Construction bidding
*Price war
*Procurement
*Tenders
*Unique bid auction"'

References


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  • Bidding — Bid ding, n. 1. Command; order; a proclamation or notifying. Do thou thy master s bidding. Shak. [1913 Webster] 2. The act or process of making bids; an offer; a proposal of a price, as at an auction. [1913 Webster] …   The Collaborative International Dictionary of English

  • bidding — [n1] command behest, call, charge, demand, dictate, direction, injunction, instruction, invitation, mandate, order, request, summons, word; concept 53 Ant. answer bidding [n2] offering of money, services advance, auction, invitation, offer,… …   New thesaurus

  • bidding — [bid′iŋ] n. 1. a command or request 2. an invitation or summons 3. the bids or the making of bids in a card game or auction do the bidding of to be obedient to; carry out the orders of …   English World dictionary

  • bidding — index demand, directive, guidance, injunction, instruction (direction), invitation, monition (legal summons) …   Law dictionary

  • bidding — behest, *command, order, injunction, mandate, dictate Analogous words: direction, instruction (see corresponding verbs at COMMAND): summoning or summons, calling or call, citing or citation (see corresponding verbs at SUMMON) …   New Dictionary of Synonyms

  • bidding — bid bid 2 verb bid PTandPP bidding PRESPART [intransitive, transitive] 1. FINANCE to offer to pay a particular price for something such as goods, property, or bonds …   Financial and business terms

  • bidding — n. offering of bids 1) to open the bidding 2) competitive; spirited bidding request 3) to do smb. s bidding 4) at smb. s bidding * * * [ bɪdɪŋ] spirited bidding [ offering of bids ] to open the bidding [ request ] to do smb. s bidding at smb. s… …   Combinatory dictionary

  • bidding — /bid ing/, n. 1. command; summons; invitation: I went there at his bidding. 2. bids collectively, or a period during which bids are made or received: The bidding began furiously. 3. a bid. 4. do someone s bidding, to submit to someone s orders;… …   Universalium

  • bidding — [[t]bɪ̱dɪŋ[/t]] 1) PHRASE If you do something at someone s bidding, you do it because they have asked you to do it. [FORMAL] The Prime Minister was right to reject him, even though it was only at the bidding of his backbenchers. 2) PHRASE: V… …   English dictionary

  • bidding — noun (U) 1 the activity of bidding (bid1 (1)) for goods, especially in an auction 1: The bidding was brisk and sales went well. 2 at sb s bidding formal because someone has told you to 3 do sb s bidding formal to obey someone s requests or orders …   Longman dictionary of contemporary English

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