ichidan verb, intransitive verb
lose a close contest; be outbid; be beaten in a bidding war
Used especially in auctions or competitive bidding situations where one is narrowly defeated. Also applicable to other close competitions.
オークションで競り負けて、欲しかった絵を買えなかった。
I lost the bidding at the auction and couldn't buy the painting I wanted.
最後の一瞬で
I was beaten at the very last moment.