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Glossary explaining BID, BIN, Proxy, etc. This glossary is a list of terms used on the portal.

Bidding is a bid that everyone is willing to pay for something.

Offer is the selling price of the goods and the seller is ready to sell the goods

Bid is the purchase price of the product and the buyer is ready to buy the product

Auction is a way of selling goods (a form of selection of demand for goods). The principle of competition between buyers.

Tender is a method of purchasing goods (form of selection of proposals for supply). The principle of competition between sellers.

Bidding up means raising the price of a product with a series of rising rates. This may be illegal if it is done by a group of people interested in raising the price. At traditional auctions, bidding is a natural course of events. Since the 1990s, with the advent of online auctions, reverse auctions have become popular, in which the traditional roles of buyers and sellers are reversed, and the purpose of bidding is to lower the price, similar to the practice of buying offers when choosing a contractor. Job.

The bid price BID is the price offered by the buyer when he buys the product.

In buy and sell orders, the offer price differs from the demand price, and the difference between them is called the offer / demand spread.

An auction is a process of buying (bid) and selling (ask, offer) goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. 
Bidding is an offer (often competitive) of setting a price one is willing to pay for something. A price offer is called a BID. The term may be used in context of auctions, stock exchange or card games.
BIN or (BuyItNow) Auction. The seller gives you the opportunity to purchase the item right away without waiting for an online auction to end. - Fixed price listings -
Proxy Bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment.