Bid Chicken
A term used with sites like ebay that means to bid over the minimun, but under what you think someone has payed. This can be quite dangerous because if you estimate the other bidder's bid wrong, you may end up having to buy the item.
Jim like ebay so much that he decided to play a game of Bid Chicken. He bid $25.00 on pants, knowing the last bidder must have enetered at least $30.00.