add_filter( 'woocommerce_product_add_to_cart_text' , 'custom_woocommerce_product_add_to_cart_text' );

function custom_woocommerce_product_add_to_cart_text($text) {
    global $product;

    $product_type = $product->get_type();
    if($product_type == 'auction' && is_page(194)){
    	return 'New bid text';
    };

    return $text;

 }