1. an offer made in response to a previous bid, typically higher or with different terms
Usage: common in auctions, real estate, and contract negotiations

1. to make a counterbid in response to someone else's bid
Usage: transitive or intransitive

Examples

• When the seller rejected our initial offer, we submitted a counterbid of $50,000 more.
• The auction house received a counterbid just minutes before the hammer fell.
• She decided to counterbid on the property after seeing the competing offer.
• In the real estate negotiation, the buyer's counterbid was closer to the asking price.
• He counterbid aggressively to secure the contract before his rival could respond.
• The counterbid included better terms and a faster closing date.
• After the first counterbid was rejected, they made a final offer.