What does the cryptic crossword clue "Deposit covers new bid that's reserved (4,2)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Deposit covers new bid that's reserved (4,2)

Guardian Cryptic #24476 | 2 Down | 2008-08-25 flower

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