The term 'You May Bid On It' can be solved by the word 'Ebay', a four letter word. Ebay is an online marketplace where people can buy and sell items. It was founded in 1995 and has become one of the most popular online shopping sites. People can bid on items, meaning they can offer a certain amount of money for an item and if their bid is accepted, they will purchase the item. Ebay is a great way to find unique items at a good price.