to offer more money than someone in an attempt to buy something, or to offer too much money in an attempt to buy something

They were overbid by a Japanese firm. 一家日本公司出价高过他们。

The Commission felt the company was overbidding and gave the franchise to their competitors instead. 委员会觉得这家公司出价过高，就把经营权给了其竞争对手。