vendor bid

English - English

Definition of vendor bid in English English dictionary

A type of bid at an auction which is made by the auctioneer on behalf of the vendor. This is used as a tactic to keep the bids moving, or to persuade buyers to pay more, or merely to have a higher price to report if the property is passed in (it's not that the vendor wants to buy what he or she is in fact selling). Such a bid is in essence a fiction, but so long as it's clearly announced genuine bidders can know what's going on. When that's not so it approaches the deliberate deception of a dummy bid

Hyphenation

ven·dor bid

Turkish pronunciation

vendır bîd

Pronunciation

/ˈvendər ˈbəd/ /ˈvɛndɜr ˈbɪd/