I have always understood a buyout to be an amount that if offered, would instantly end the auction and the item would be sold to that buyer. Yet lately I have seen auctions that list a buyout as a range. For example: a recent auction for a deed had a buyout of 100 - 120e. The seller however said if offered 100e they would let the auction run till the end. Is that really considered a buyout? It sounds to me like it's just another bid. In that case why call it a buyout?