Buy It Now (BIN) is a fixed-price option that lets a buyer skip the auction and purchase the lot immediately at a stated price. Once someone hits BIN, the lot is locked and removed from the active auction.
BIN prices are typically set 25–50% above the auctioneer’s expected hammer price — high enough that most bidders prefer to play it out, but reasonable enough that an impatient or risk-averse buyer might pull the trigger. BIN is most common on timed online auctions; it’s rare in live auctions because it disrupts the sale flow.
Strategically, BIN is a hedge for the seller and a risk-removal option for the buyer. The seller locks in a guaranteed price (above market) instead of waiting through an auction with uncertain outcome. The buyer pays a premium but eliminates the risk of being outbid. Most platforms make BIN expire once a real bid is placed — preserving the auction format from that point forward. Some platforms let BIN remain available until a threshold percentage of the BIN price is reached in bidding, after which it disappears.