![]() ![]() The bidding continued until a buzzer sounded, at which point each contestant who had not yet "frozen" was given one final bid. Some rounds were designated as one-bid rounds, where only one round of bidding was held (this is the format used on the current version of The Price is Right) sometimes the minimum-bid and higher-bid threshold rules also were waived. A later rule allowed contestants, on their opening bid only, to "underbid" the other bids, but this automatically froze their bid and prevented them from later increasing the original bid. A contestant could freeze his/her current bid instead of increasing it if he/she believed his/her bid was close enough to win. After the opening bid, contestants bid on the item in turn with each successive bid a certain amount higher than the previous bid. On the original version of The Price Is Right, four contestants – one a returning champion, the other three chosen from the studio audience – bid on items or ensembles of items in an auction-style format.Ī prize was presented for the contestants to bid on.
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