The term 'Actions at Sotheby's' refers to the process of bidding on items at an auction house such as Sotheby's. BIDS are the offers made by potential buyers for a particular item, and they are usually made in the form of a monetary amount. Bidding is a competitive process, and the highest bidder wins the item. BIDS can be made in person or online, and the auction house typically sets a minimum bid amount.