Help - BID-ASK Market
What is a bid-ask market?
Much like the NASDAQ trading platform, a “Bid-Ask” market is a real-time trading floor for buyers and sellers. For any given item, buyers may have certain ‘bid’ prices they are willing to pay for it, and sellers have certain ‘ask’ prices they are willing to sell them for. By gathering the ‘asks’ and ‘bids’ into one easily accessed database, products can be traded and exchanged in greater frequency.
Tango Trade lists the bid and ask prices in order so the best sell(ask) price is viewable to the bidders, and the best buy(bid) price is viewable to the sellers. This gives everyone a clear view of the market and their potential revenues.
Simply having a better ‘bid’ price than a given ‘ask’ price is not the only way to initiate a purchase, however. Should they choose to do so, a user can put in a direct market order with any listed price, regardless of whether it is the best price or not.
Applying a bid-ask model to the Network Equipment Market
The number one reason to implement a bid-ask system is efficiency. The ability to see quantities and prices in real-time is invaluable in a market where quantities and prices change every day.
Having all the data at your fingertips gives you the power to make quicker judgments, quotes, and decisions. Giving a customer a quote is much easier when you know what others are selling the items for.
Unfortunately, in order to have quantitative data in this market, there are some hurdles that must be overcome. ‘Price’ is not the only decision criterion that helps traders make transactions. Some variables must be fixed in order to sort them in a clear, easy-to-see fashion. The item condition is separated into six categories, and we allow for comments to be added so sellers can specify the amount of RAM an item has or how many power supplies it contains, along with any other variables. |
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BID-ASK Market
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BID-ASK Transactions
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Sending Auction Announcements
Excel Spreadsheet Inventory Upload
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