1. people who bid more than the value of something or more than necessary to win an auction or contract
Usage: plural form

Examples

• The overbidders at the art auction drove prices well above the estimated values.
• Several overbidders competed fiercely for the vintage car, pushing the final price to record levels.
• Real estate agents warned that overbidders in the hot market might face financial difficulties later.
• The construction project attracted many overbidders who underestimated the actual costs.
• Experienced collectors avoided becoming overbidders by setting strict budget limits.
• The auction house was pleased with the overbidders who inflated the final sale prices.