What is bin?

[Robin]

I have seen this word on various domain selling pages. People asked seller about its "bin". But i don't know its meaning.

Can somebody tell me?

 

[Coopey]

'Buy it now'

If a seller quotes a buy it now price and buyer agrees then they're both legally bound (almost everywhere) to complete the sale at that price.

i.e. if a seller says BIN= $500 and a buyer offers the $500 the seller must complete. (He/she would be able to try and negotiate the price upwards).

Some sellers are afraid of advertising with BIN prices as they feel they may miss out (they think a seller may be prepared to offer $1000 for a name and then see it advertised for less, getting themselves a bargain). In reality, buyers much prefer seeing a BIN price- as even if they're not going to pay it, it is a good basis to begin negotiations...

http://www.namepros.com/domain-newbies/141510-np-acronyms-and-what-they-mean.html

 

[budhi1976]

If I am a buyer, BIN is something I will look first, if the number is still within my budget then I will start to bid however if I really want the product (domain / website) then I'll just go with BIN price. The thing is if BIN Price is way out of my budget then I won't even give it a second thought.