What Is An Order Book?

If you are venturing into the refurbished phone market, paying a fair price for it is probably a big factor for you. Doji gives you total control over the price you pay via our online auction system which works like bidding on the stock market.

To help you navigate this function, here’s a breakdown of the most important bit.

What is an order book?

The Doji order book is an electronic list of buy and sell orders for the model you’ve selected, organised by price. It lists the number of units that others are willing to purchase, and at which price point, and also shows the number of units that are listed for sale at each price point.

That means you get to see it all - in real time. No secrets, no surprises.

How to use the Doji order book

On our platform there is pricing transparency and the order books on the product pages will show you all the relevant sales information. 'Offers' are for buyers and 'Asks' for sellers.

So, for a smooth transaction at the best possible price, the first place to look is doji.co.uk.

How bids work on Doji

Bidding on Doji

If you place a bid, this is the maximum price you’ve agreed to pay. It’s not necessarily the price you will pay (this system will be familiar if you’ve used the ‘auction’ feature on eBay). If a product's being sold at a price below your bid price and your offer is top of the list of bids, then you’ll pay that price.

For example - you want an iPhone 11 and you’re prepared to pay up to £500. You set a bid price of £500 which goes into the order book. If your offer is at the top (ranked by how much you’re willing to pay and first come/first serve) and a listing appears at £450, then you’ll be matched and that’s the amount that you’ll pay. 

Bargain, am I right? To get started, find your next phone on Doji.

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