verb (used with object), out·bid, out·bid·den or out·bid, out·bid·ding.
Examples from the Web for out-bid
Once he was present at an auction where he was out-bid in the competition for a rare, perhaps a unique, volume.The Library|Andrew Lang
I could not help looking at her with alarm; while I did not yet like to out-bid her for her wish.
You know I only showed it you, to provoke your generosity, that you might out-bid your rival with a better present.