Direct Bidder

You want that Megaladon tooth. You didn't hire a broker to bid on it for you. You went to the auction on MegNado props. You were the direct bidder on that asset.

The delineation is an important one on the Street where, so often, voting and buying/selling happens by designation or proxy. Direct bidders just act on behalf of their own fiduciary duties and not as a commissioned broker (usually) bidding indirectly on behalf of others.