Bidding War

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Bidding War

A situation in which two persons or organization are so interested in a product, asset, or potential employee that they offer successively higher prices or salaries for it. For example, two potential employers for a recent graduate may be so interested that when the first offers $50,000, the other comes back with $55,000, which leads the first to increase to $60,000, and so forth. Bidding wars usually occur very rapidly.

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