Buy It Now (BIN) can be very useful to shorten the buying process and time needed to close deal. Once choosen, you automatically become the winner of the domain and the auction closes. Nobody else can buy the domain. The seller gives you the opportunity to purchase the item right away without waiting for an online auction to end. BIN (BuyItNow) is fixed price listing, and the price is the Price at witch the item is sold immediately.
There is no fixed price for the domain, however, minimum offer amount may be indicated. You submit the amount for which you are ready to purchase the domain. When you place a bid, the seller decides if he/she would like to negotiate with you on a final price.
Some high-value domains may be offered as part of an auction where the highest bidder wins. You may see the bids made by others on the domain page, and also time left before the auction ends. Identities of bidders are hidden, so anyone that buys the domain can remain anonymous. This is normally done for privacy and security reasons.
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