What is BIN?

Discussion in 'General Business' started by Constance, Dec 7, 2006.

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  1. #1
    What is the definition of BIN? I see it alot here. :)
     
    Constance, Dec 7, 2006 IP
  2. MakeThatDollar

    MakeThatDollar Notable Member

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    #2
    Buy it now :)
     
    MakeThatDollar, Dec 7, 2006 IP
  3. dilute

    dilute Peon

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    #3
    Buy It Now... Easy to work out and easy to find the answer :)
     
    dilute, Dec 7, 2006 IP
  4. eddy2099

    eddy2099 Peon

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    #4
    Basically, in an auction, the typical method of trade is through a bidding system where the highest bidder would get the deal provided there is no reserve pricing.

    Buy-It-Now (BIN) is a price which the bidder can offer the seller to buy over the item at that price and thereby ending the auction. The Buy-It-Now price is usually visible. This comes at a first-come-first-serve basis
     
    eddy2099, Dec 7, 2006 IP
    drig likes this.
  5. drig

    drig Peon

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    #5
    Well said. Everything up there is correct :). Rep added.
     
    drig, Dec 7, 2006 IP
  6. Constance

    Constance Active Member

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    #6
    Ok thanks everyone! You cleared that up tremendously for me! :D
     
    Constance, Dec 7, 2006 IP