prevailing bid

USAGE SUMMARY

The phrase "prevailing bid" is correct and usable in written English.
It is typically used in the context of auctions or competitive bidding situations to refer to the highest bid that has been made at a given time. Example: "The auctioneer announced that the prevailing bid for the painting was now set at $5,000."

✓ Grammatically correct

News & Media

Encyclopedias

Human-verified examples from authoritative sources

Exact Expressions

3 human-written examples

That left Cablevision with the prevailing bid.

The New York Times

Orders from customers to buy or sell at certain prices, called limit orders, were rarely shown to the overall market if they fell between the prevailing bid and ask -- practically guaranteeing that investors never received a better price than brokers wanted to offer.

The New York Times

The seller of the home, listed for $1.885 million, selected the ultimate prevailing bid and a backup.

Los Angeles Times

Human-verified similar examples from authoritative sources

Similar Expressions

57 human-written examples

Severn is now below the £18.25 level prevailing before the bid was revealed.

The Guardian - Business

Mittal's hopes of prevailing with its bid lie largely in enough Arcelor shareholders rejecting the proposal to merge with Severstal.

The Guardian - Business

Then there are regulations such as those on minority contracting, competitive bidding, prevailing wages and historic preservation.

The Washington Post

But two of the three people familiar with the franchise's plans acknowledged that Memphis, emboldened by support from Federal Express, had emerged as the favorite, prevailing in a strong bidding war over Louisville and its main corporate sponsor, the parent company of Kentucky Fried Chicken.

The New York Times - Sports

Reuters reported the bankruptcy auction concluded early Wednesday morning, with Lampert ultimately prevailing with a $5.2 billion takeover bid.

The Washington Post

State law requires public agencies to award contracts to the lowest bidder, which must pay its workers prevailing wage, although the low bid can be rejected if the company is determined not to be a responsible bidder.

The New York Times

His son Wenceslas II profited from the chaos prevailing in the Polish duchies a bid for unification by Przemysł II of Great Poland (crowned king in 1295) was cut short by his assassination to become king of Poland in 1300.

Encyclopedia Britannica

Long championed by unions, prevailing wage laws require companies bidding on public projects to pay certain minimum wages to the workers they'll employ.

Huffington Post

Expert writing Tips

Best practice

When using "prevailing bid", ensure the context clearly indicates a competitive bidding situation. It implies there are multiple bids and one is currently in the lead.

Common error

Avoid using "prevailing bid" when you actually mean the lowest bid. "Prevailing bid" always refers to the highest current offer, while the lowest bid is the smallest offer in a competitive setting.

Linguistic Context

The phrase "prevailing bid" functions as a noun phrase, typically acting as the subject or object of a sentence. It identifies the current highest or leading offer in a competitive bidding process, as exemplified in Ludwig's examples.

Expression frequency: Rare

Frequent in

News & Media

66%

Encyclopedias

33%

Formal & Business

0%

Less common in

Academia

0%

Science

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "prevailing bid" is a noun phrase denoting the current highest offer in a competitive bidding process. According to Ludwig, the phrase is correct and usable in written English. It is most frequently encountered in News & Media contexts, with a neutral register suitable for formal communications. Alternatives include "winning bid" and "highest bid". Ensure it's not confused with "lowest bid", which represents the smallest offer. While grammatically sound, its use is relatively rare.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

winning bid

Replaces "prevailing" with "winning", focusing on the outcome of the bidding process.

highest bid

Emphasizes the magnitude of the bid, indicating it is the largest offer.

leading bid

Highlights the current status of the bid as being in the lead.

top bid

A simpler way to say the highest or leading bid.

successful bid

Focuses on the bid that ultimately wins the auction or contract.

accepted bid

Indicates that the bid has been formally accepted by the seller or organization.

dominant bid

Suggests a bid that is significantly higher than other bids.

ultimate bid

Refers to the final bid that is accepted after all bidding is concluded.

final offer

Highlights the last offer made, often implying a take-it-or-leave-it situation.

prevailing offer

Substitutes "bid" with "offer", which has a broader scope than "bid".

FAQs

What does "prevailing bid" mean in an auction?

In an auction, the "prevailing bid" refers to the highest bid that has been made and is currently the leading offer. It's the amount someone has offered that others must exceed to win the item or contract.

What's a good alternative to "prevailing bid"?

Depending on the context, you could use alternatives like "winning bid", "highest bid", or "leading bid".

Is "prevailing bid" the same as "lowest bid"?

No, "prevailing bid" and "lowest bid" are not the same. The "prevailing bid" is the current highest offer, while the lowest bid is the smallest offer made, usually in a situation where the lowest price wins.

How do I use "prevailing bid" in a sentence?

You might say, "The auctioneer announced that the "prevailing bid" for the antique car was $25,000", indicating that $25,000 is the highest offer at that moment.