bidding wars
Competitive price escalation
Bidding wars occur when multiple buyers compete for the same item or property, each successively raising their offer to outbid the others.
The term appears most often in real estate: The house sparked a bidding war and sold for fifty thousand over asking.
Bidding wars can drive prices well above initial expectations, benefiting sellers while frustrating buyers.
- reserve priceMinimum acceptable bid
- highest bidderWinner at auction
- overbiddingOffering excessive amounts
- multiple offersSeveral simultaneous purchase proposals
- hammer priceWinning auction bid amount
auctioneer · going once · outbid · scarcity · supply and demand · art auctions · bluffing · rivalry · valuation · sealed bids · housing market · negotiation tactics · zero-sum game · gazumping · deep pockets · feeding frenzy · market competition · mergers and acquisitions
- housing crisishousing bubble, housing crash, subprime mortgages, foreclosures, subprime loans
- housing trendshousing bubble, housing shortage, affordable housing, gentrification, suburbanization
- market rivalryrivalry, rivals, competitors, competition, price war
- competitionscontests, tournaments, match, matches, game
- auctionsauction, bid, auctioneer, auction house, auction houses
- publishingpublishers, editors, editor, publishing house, books
bidding warssticker price
Manufacturer's suggested retail amount
list price · posted prices · retail pricing · MSRP · price tags
bidding warsbuyer's market
Conditions favoring purchasers
soft market · price reductions · fire sales · clearance sales · oversupply
bidding warsprice cuts
Reductions in cost
markdowns · haggling · price drops · discounting · price reductions