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A bid is an offer, or proposal, to pay for something. “To bid” is the verb that describes making that offer. PyongChang bid for the 2010 and 2014 Olympics before winning the 2018 Olympics. They lost their first two bids, but won their third bid. In an auction, many people bid higher and higher prices for an object for sale; the winning bidder is the person who bids the highest. eBay is a popular auction site in the United States. People make their bids (offers to pay, in dollars) for objects and the highest bidder gets the object.