After the city revised its specifications and put the contract out to bid again in 1999, another company, McCoy Miller of Indiana, won with a low bid of $110,000 per vehicle.
But after about two weeks of debate, the corporate side gambled with a low bid of $500,000.
Mr. Starbard said even the project's engineering consultant, CH2M Hill, was stunned when what they believed was a very conservative $38 million estimate in March 2007 was met with a low bid of more than $44 million for a mile's worth of road and bridge improvements.
A year later Schaeffler, a family-owned maker of ball-bearings, tried to take over Continental with a low bid, but because of the financial crisis attracted a flood of shares.
To their mutual horror, they found themselves offering the owners a low bid of $20,000, "knowing they'd turn it down," said Ms. Belloise, but ultimately it was accepted.
It was good enough for the New York State Dormitory Authority, a huge construction division of state government, to reject a low bid by the DiTommasos on the specific ground that they were tainted, and defended that in the courts.
In October 1990, NYSDOT accepted a low bid of $8.5 million (equivalent to $ in ) for the project, clearing the way for construction to begin on the bypass by the following month.
Analysts said it was, in the words of Robert P. Napoli of ABN Amro, a "ridiculously low" bid for a leader in an extremely undervalued industry.
Mukesh's camp has accused RADAG, among other sins, of making an unrealistically low bid to build a 22km (14-mile) sea bridge off Mumbai, purely to scupper RIL's offer.
It must be noted, however, that in early 2017 a record low bid of USD $0.063 per kWh was recorded in a power auction in Chile for the provision of dispatchable 24-h solar energy.
