Underbid

Verb

Definition: To make a lower bid than somebody else in a competitive situation, such as an auction or bidding process.

Synonyms: Undercut, Undersell

Antonyms: Outbid, Overbid

Examples:

He underbid all the other contractors to win the construction project.
She decided to underbid her competitors in order to attract more customers.

Mnemonics:

Think of "under" as meaning "below" or "less than" in terms of bidding.
Remember the phrase "undercutting the competition" to associate with underbidding.

Etymology:

Origin:

The word "underbid" originated from the combination of "under-" (indicating below or less than) and "bid" (meaning to offer or propose a price).

Historical Usage:

The term has been used in the context of auctions and competitive bidding for several centuries.

Related Idioms:

Idiom:

"Underbid someone at their own game"

Explanation:

To outsmart or outcompete someone by offering a lower bid in a manner that surprises or surpasses their expectations.

Misconceptions:

Misconception:

Confusing "underbid" with "underestimate".

Explanation:

While both words involve assessing something as lower or less than expected, "underbid" specifically refers to offering a lower bid in a competitive situation, whereas "underestimate" pertains to undervaluing or misjudging in general.