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Wiktionary
gazump

Etymology 1 vb. 1 (context British English) To swindle; to extort. 2 (context British Australia real estate English) To raise the selling price of something (especially property) after previously agreeing to a lower one. 3 (context British Australia real estate English) To buy a property by bidding more than the price of an existing, accepted offer. 4 (context British Australia English) To trump or preempt; to reap the benefit underhandedly from a situation that someone else has worked to create. Etymology 2

n. 1 (context US slang dated English) An automobile. 2 (rfdef: English)

WordNet
gazump
  1. v. rip off; ask an unreasonable price [syn: overcharge, soak, surcharge, fleece, plume, pluck, rob, hook] [ant: undercharge]

  2. raise the price of something after agreeing on a lower price

Usage examples of "gazump".

They had a buyer for their place: but they had been gazumped on the flat they wanted to buy.

He never put up the price or let us be gazumped by other clients and he helped us fix up our mortgage.

And the place we got gazumped on was on the route that the open-top bus takes when we win something.