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Definition of Dummy bid
1. Noun. (business) A bid made at an auction, by a dummy bidder acting in collusion with the auctioneer or vendor, designed to deceive genuine bidders into paying more. ¹
¹ Source: wiktionary.com
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1. Noun. (business) A bid made at an auction, by a dummy bidder acting in collusion with the auctioneer or vendor, designed to deceive genuine bidders into paying more. ¹
¹ Source: wiktionary.com