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Buy It Now, also commonly referred to as BIN, is an option sellers can add to their auction. In addition to the opening bid price (and the reserved price, if applicable) sellers can add a Buy It Now price for a small additional fee.
The BIN price is a fixed price - if a bidder comes along and decides she would rather pay the BIN price to guarantee herself the item, rather than try her luck and bid at the lower price, she clicks the BIN, and when she confirms her username, password and auction details, the auction will automatically end and she declared the winner.
The Buy It Now price is only available until the first bid is made, or if it is a reserved auction, it is only available until the reserve price is met.
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