vendor bid

English

vendor bid (plural vendor bids)

(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.

单词	vendor bid
释义	vendor bid English Noun vendor bid (plural vendor bids) (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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