1. the act of making a competing bid in response to another bid, especially in auctions or contract negotiations

1. to make a competing bid against another bidder; to bid higher or with better terms than a previous bid
Usage: present participle of counterbid

Examples

• The auction house saw intense counterbidding between two collectors for the rare painting.
• After the initial offer, the seller began counterbidding to secure a higher price.
• Counterbidding strategies are common in real estate negotiations.
• The company engaged in counterbidding to win the government contract.
• She was counterbidding against her rival throughout the entire auction.
• Counterbidding can drive up prices significantly in competitive markets.