Definitions from Wiktionary (vendor bid)
▸ noun: (finance) A type of bid at an auction which is made by the auctioneer on behalf of the vendor, without any desire to buy the article. 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. Such a bid is in essence a fiction; if not clearly announced as such, it approaches the deliberate deception of a dummy bid.
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▸ noun: (finance) A type of bid at an auction which is made by the auctioneer on behalf of the vendor, without any desire to buy the article. 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. Such a bid is in essence a fiction; if not clearly announced as such, it approaches the deliberate deception of a dummy bid.
Similar:
commission bid,
sealed bid,
bidding price,
bidding,
bid shading,
bid price,
upbid,
counterbid,
Vickrey auction,
megabid,
more...
Opposite:
▸ Words similar to vendor bid
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▸ Invented words related to vendor bid