underbid
UK: ˌʌndəˈbɪd | US: ˌʌndərˈbɪd
vt. to submit a bid lower than another (especially in auctions or contracts)
vt. to bid less than the true value or worth
n. a bid that is lower than another or the expected value
The word "underbid" combines "under" (from Old English under, meaning "beneath" or "below") and "bid" (from Old English biddan, meaning "to ask" or "to offer"). The term emerged in the context of competitive bidding, where offering a price below others became a strategic action. The morphemes retain their original meanings, reflecting the logical construction of "bidding below" a competitor or a benchmark.
The contractor underbid all competitors to win the project.
She regretted underbidding for the antique vase at the auction.
His underbid cost him the deal when the client doubted its feasibility.
Companies sometimes underbid to gain market share, risking losses.
The underbid was rejected for being unrealistically low.