Meaning of “outbid” in the English Dictionary

business-english dictionary

"outbid" in British English

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(Definition of “outbid” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"outbid" in Business English

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outbidverb [ T ]

uk /ˌaʊtˈbɪd/ us outbidding, outbid, outbid

COMMERCE, FINANCE to offer to pay a higher price for something than someone else, especially at an auction (= public sale):

They made a full-price offer but were outbid by another buyer.
outbid sb on sth He was outbid on every property he was considering.
outbid sb for sth The retail group outbid all three competitors for space in the shopping centre.

(Definition of “outbid” from the Cambridge Business English Dictionary © Cambridge University Press)