limit bid

plural limit bids

1. An offer to buy in an auction for any value up to a specified maximum.

   Consistent with this conjecture, Cornelli and Goldreich show that investors submitting price-limited bids receive larger allocations when the book contains fewer limit bids.

   2007, B. Espen Eckbo, Handbook of Corporate Finance

   2 more examples

   I am still inclined to think the London auctioneers can be trusted, but I have little faith in the Germans. If you put a $20 limit bid by accident on a $1 autograph at a German auction, you are pretty sure to get it at $20. Like some other auctioneers, if they know your limit they will supply any amount of competition, honest or otherwise.

   1902, The Collector - Issues 160-171, page 29

   If a market again trades under the limit bid price or above the limit offered, go with the flow. These are trades that possess reasonable risk, because they indicate the previous support or resistance is now absent.

   2013, George Kleinman, Trading Commodities and Financial Futures

2. bridgeA bid that describes the bidders hand fairly precisely (indicating a small range of high card points and some indication of shape.)

   OK, you are the captain (partner opened with a limit bid).

   2009, Eric v.d. Luft, How I Became a Life Master Playing the Weak No Trump, page 18

   2 more examples

   When the responder made a limit bid, the opener may already be in a position to name the final contract.

   2011, David Bird, Bridge Made Easy: Flash, page 5

   If you raise a partner's opening suit bid from one to two, it is also a limit bid, showing six to nine points.

   2012, Harry Lampert, The Fun Way to Serious Bridge, page 62