It's widely known that the fourth and final bidder during a One Bid round will commonly bid $1 on an item if he/she believes that the first three bidders all overbid. I don't know which episode featured the first ever $1 bid. I don't know if a contestant happened to resort to bidding $1 and the gimmick became popular after that, or if the production crew has always encouraged the $1 bid concept for some added humor to the show.
shareThat strategy originates to the fourth episode ever. Lady bid $500 on her showcase, when she knew her showcase was worth much more than that, as she thought her opponent overbid. Bob read her opponent's showcase price first, where she did indeed overbid, and she won without Bob ever revealing the price of her showcase.
shareITALIANDOM, et al; 1st off, the lady bid $500.00, & not a $1, as you said. Not her opponent. Whom's bid you didn't mention. 2ndly, the 5th episode of The Price Is Right aired in the early 60's. Well before Barker hosted.
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