Wiktionary
underbidder
n. The last person to drop out in an auction; the second-highest bidder.
Usage examples of "underbidder".
Vic would no doubt be collecting a sizable kickback from the seller, along with the commission from his client, and Ronnie North looked expansively pleased both with his status as underbidder for this one horse and with life in general.
Although we were the underbidders on that occasion and failed to secure the deal, Mr.