This guide should help those new to ebay and those who do not fully understand the workings of buy it now of best offer.
This is the buy it now or best offer button.
This tool only works on Buy It Now listings. It works by giving a set Buy It Now Price which the item can be bought by, but also a best offer button.
If the best offer button is clicked an offer can be submited to the seller. It must be fair to the buyer and the seller. It is possible to tell how many offers there have been by clicking the amount of offers (in this case one) in the History bar which looks like this.
If the offer is declined, the listing still goes on but if it is accepted, the listing ends and the item is sold. If there is and offer that is rejected, the Buy It Now is still active and the listing can be won.