What is BIN?

[Wheatworks]

I'm sure this is one of those obvious things I've missed somewhere. Exploring the marketplace forums, I see the acronym BIN quite frequently.

What is BIN?

 

[maxeaus]

BIN is "Buy it Now"
eg: those domains in your signature, do you have a BIN in mind?

 

[Pichichi]

it is the price you expect to sell your domains for

 

[Wheatworks]

Thanks, Maxeaus and Pichichi!

So is a BIN price usually the bare minimum one would accept for a domain or is it a high, "it's my lucky day" kind of price?

Given the list of domains in my signature, do you recommend posting a BIN price beside each of them, a few of them, the websites only or wait until someone asks?

 

[SpareDomains]

So is a BIN price usually the bare minimum one would accept for a domain or is it a high, "it's my lucky day" kind of price?

If I ask you for a BIN Price that basically translates into what price makes this a sale now with no back and forth negotiations so of your 2 price points posted above a BIN would fall into your "it's my lucky day".

 

[Krossat]

It is the price you would sell it for instantly.
BIN when mentioned in the Offers wanted section means that the seller is expecting you to keep bidding up closer to the BIN, while he might lower the BIN to encourage more bidding. This way the seller can get a sale closer to the value he might have in mind (note that some sellers set up a BIN higher than what they would settle for, to bring it down and encourage the buyers to bid)

 

[zabijaq]

Usama BIN Ladin
Ich BIN domainer
BIN for binary
Brithish MiniCooper promoter Mr "BIN"