What is bid?

When you bid you try to get something for a low price. for instance let's say i went on a bidding website and it said the highest bid was 25.00 .Well if i put 26.00 is what I want to pay, I would be in the lead. Now keep in mind you will be timed every time a person bids higher than the other person 10 seconds gets added on. The person to have the highest price( which would be at this time) would win what they are bidding for. :-)

Hope it helped. P.S I am only 10 and i didn't ask anybody(the truth)