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The bid price * refers only to auctions like eBay, not over-the-counter transactions with dealers. is the price that a dealer stands ready to pay.

The bid price *

refers only to auctions like eBay, not over-the-counter transactions with dealers.

is the price that a dealer stands ready to pay.

is the price that a dealer stands ready to sell at.

is the price that the dealer has just paid for something, his historical cost of the most recent trade.

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