Definition of "underbidder" [underbidder]

• The last person to drop out in an auction; the second-highest bidder. (noun)

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• "The underbidder was the Metropolitan Museum of Art. Asked recently to name a single work that he regretted not acquiring, the Met's outgoing director, Philippe de Montebello, responded, "The Rubens.""
• "The National Gallery was the underbidder at that auction, but after the sale it was able to cut a deal to secure the work for the collection."
• "We were the underbidder on the GOLD Pan Pac which sold for a whopping $345,000.00."