Outrageously Funny Word Dictionary :: Rebidding

👉 Rebidding is a process in which an auctioneer or other bidder replaces another with a lower bid, typically to settle a bidding war. This typically involves lowering the price of the item being offered for sale and making it available to new bidders. Rebidding can be used as a way to clear out a bidding war by providing a lower price point that allows the original bidder or seller to withdraw their offer, potentially allowing them to recoup some of their initial investment. Rebidderies

rebidding