From Longman Dictionary of Contemporary Englishoutbidout‧bid /aʊtˈbɪd/ verb (past tense and past participle outbid, present participle outbidding) [transitive] BBTto offer a higher price than someone else, especially at an auction→ See Verb table
Examples from the Corpus
outbid• Silver said that he feared that if, as reported, Blackburn became involved, he feared Leeds may be outbid.• Like two poker players, each raises its level of hormonal bidding, until one of them feels outbid, and folds.• He would outbid Aristotle Onassis for a jewel and marry the highest-paid film star in the world, twice.• Only weeks ago, Raytheon also outbid Northrop for Texas Instruments' defense operations.• In order to win an election, a party would make extravagant promises, doing so in order to outbid the other party.• Each new capital seemed to be eager to slightly outbid the previous one.• Each has been trying to outbid the rest in an attempt to gain market share and so exploit economies of scale.• Grigsby shocked his rivals, outbidding them with a $ 2. 60 fee for each $ 1,000 bond sold.• Shue outbid three competitors for the painting.From Longman Business Dictionaryoutbidout‧bid /aʊtˈbɪd/ verb (past tense and past participle outbid, present participle outbidding) [transitive] to succeed in obtaining a property, contract etc by making a better offer than anyone elseDevelopers could outbid any farmer for the land.→ See Verb table 