overbid

Short definition from Wiktionary

Verb

1. 1
   To make an excessively high offer to pay or accept a price.
2. 2
   To outbid.
3. 3
   To announce a goal, before starting play, that exceeds the goal actually achieved.
4. 4
   simple past and past participle of overbide

Noun

1. 1
   An excessively high offer to pay or accept a price.
2. 2
   The announcement of a goal, before starting play, that exceeds the goal actually achieved.