In our Buy-or-Bid sale, we have adopted some common practices used in the financial world. To establish the market price for the stock, bond, or commodity, the "BidAsk spread" defines the gap between the bid and the ask prices of a security or asset.
What Is Bid & Ask at the stock exchange?
The term "Bid & Ask" (also known as "Bid and Offer") refers to a two-way price quotation that indicates the best potential price at which a security can be sold and bought at a given point in time.
- The Bid price represents the maximum price a buyer is willing to pay for a share, stock, or other security.
- The Ask price represents the minimum price that a seller is willing to take for that same security.
- A trade or transaction occurs when a buyer in the market is willing to pay the best offer available—or is willing to sell at the highest bid.
- 'Spread' defines the gap between the bid and the ask prices of a security or asset.
The BidAsk spread in our Buy-or-Bid sale
In our Buy-or-Bid sale, we use the 'BidAsk spread' to show the gap between the minimum accepted price of the item and the sellers asking price; here called the BuyNow price.
- The lowest amount in the BidAsk spread is the minimum acceptable starting price of the item.
- Items that receive bids within the BidAsk spread will be made available to the high bidder after closing the sale.
- The highest amount in the Spread is equal to the BuyNow price.
- Items that receive bids at the BuyNow price are immediately sold, and the sale is closed.
- For bids entered below the bottom of the BidAsk spread, our sellers have the option to accept these bids during the sale and up to 2
hours following the closing.
- Items that did not receive bids within the BidAsk spread and offers declined by the seller are no longer available after the sale's closing.
More FAQ and answers in the Buy or Bid sale.