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Bid up
If the product is in short supply relative to the demand, the price will be bid up and some consumers will be eliminated from the market.
They bade them up until they reached 10,000 dollars.

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Open the tool →哄抬 (hōng tái) means “Drive up prices, Bid up”.
哄抬 is pronounced hōng tái in Mandarin Chinese.
“Drive up prices” is 哄抬 (hōng tái) in Chinese.
This page has 2 example sentences using 哄抬, each with pinyin and an English translation.