Etymology
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underbid (v.)

1610s, from under + bid (v.). Related: Underbidding.

updated on February 26, 2014

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Definitions of underbid from WordNet

underbid (v.)
bid (a hand of cards) at less than the strength of the hand warrants;
underbid (v.)
bid lower than a competing bidder;
underbid (v.)
bid too low;
Etymologies are not definitions. From wordnet.princeton.edu, not affiliated with etymonline.