In this Name Your Price tournament, the chefs uncover just three items in their mystery baskets and must bid on their fourth ingredients in a live auction. In round one, a crowded fryer derails one chef's carefully timed plans. Then, in the entrée round auction, a bidding war breaks out over a premium ingredient. In the dessert round, one chef makes ambitious plans to make ice cream, but the judges are skeptical of the approach. Only one talented competitor will move on to the tournament's grand finale.

Four new competitors are ready to commit to a tournament that stretches their strategic planning abilities as well as their cooking skills. Every basket has just three items, and a live auction determines what each chef scores as their fourth ingredient. In this preliminary battle, one chef spends a ton of money to secure a favorite ingredient for his appetizer dish, raising expectations that he should be able to ace the round. Will his dish deliver? The chefs open up the second basket to discover a weird burrito, and the most promising auction item seems to be some lovely mushrooms. Then, all eyes are on the last two competitors as they race to make desserts using a fruit, booze and some pastries from the basket, plus the two very different items from the auction. Only one chef will advance to the Name Your Price tournament grand finale!