What does “bid” mean in an auction?
Bid: A prospective buyer’s indication or offer of a price he/she will pay to purchase property at auction. When you place your maximum Bid, you enter the highest price you are willing to pay for an item. Your maximum bid is kept confidential until it is exceeded by another bidder. The automatic bidding system will place bids on your behalf at the bid increment amount above the current high bid.The Bid price is $100: This is currently the highest bid in the market for shares of the stock. Remember that as the name “bid” implies, there are other buyers that are bidding at a lower price.