The term 'MADE FIRST BID' can be summarized as 'OPENED the bidding process'. This phrase is often used in the context of auctions, where the first bid is made by the person who opens the auction. This is usually done by the auctioneer, who will announce the start of the auction and then accept bids from the participants. The person who makes the first bid sets the starting price for the item being auctioned, and all subsequent bids must be higher than this amount.