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bid something up
to raise the price of something at an auction by offering higher and higher prices; to increase the value of something, such as shares of stock, by offering a higher price for it each time it comes up for sale. Who is bidding the price up on that painting? Someone bid up the price on each piece at auction and then backed off.
Raise a price by raising one's offer, as in We were hoping to get an Oriental rug cheaply, but the dealer kept bidding us up. This phrase is used in business and commerce, particularly at auctions. [Mid-1800s]
1. To increase the price of something by offering increasingly high purchase prices for it: The traders bid up the stocks in oil companies. The buyer bid the artist's paintings up much more than she expected that they would be worth.
2. To increase some cost by offering increasingly high purchase prices: There were many potential buyers, and together they bid up the cost of milk to $3 per gallon. The price was low at first, but the buyer bid it up to much more than he could afford.