Your query isn't being executed.
$mailquery = "SELECT email...
It needs to contain mysql_query().
$mailquery = mysql_query("SELECT email FROM tbl_users INNER JOIN tbl_bides ON tbl_users.email = tbl_bides.bidder_id");
Or, if your query requires a connection:
$mailquery = mysql_query("SELECT email FROM tbl_users INNER JOIN tbl_bides ON tbl_users.email = tbl_bides.bidder_id", $connection);
while replacing $connection with the variable you may be using to connect with, if that is mysql_ to start with and that is unknown.
Make sure you are successfully connected using mysql_ (although you should move to mysqli_ or PDO).
Plus, I've placed a comment under your question about how you are using this "dynamic" method, but failed to respond/updated your question.
You will need to use a WHERE clause, and using the table/column that you are querying.
I.e.: WHERE table.column = '$email'
Your present code is open to SQL injection. Use mysqli_* with prepared statements, or PDO with prepared statements.
Then consult:
Add error reporting to the top of your file(s) which will help find errors.
<?php 
error_reporting(E_ALL);
ini_set('display_errors', 1);
// rest of your code
Sidenote: Displaying errors should only be done in staging, and never production.
Also add or die(mysql_error()) to mysql_query() in case your query may have failed.
If you get a notice about deprecation, then you will need to use either mysqli_ or PDO, which you should be switching to, as those mysql_ functions are deprecated and will be removed in future PHP releases such as PHP 7.0
Remember to use the same MySQL API from connection to query.
Change:
mail($to, $subject, $txt, $headers);
to: (and using a conditional statement)
if(mail($to, $subject, $txt, $headers)){
  echo "Mail was sent and has done its job.";
}
else{
  echo "Error, check your logs.";
}
If you see Mail was sent and has done its job., then mail() has done just that, its job.