Price quotation for SECURITIES that are not frequently traded or that are traded on the OVER-THE-COUNTER MARKET. The BID QUOTATION is the highest price a prospective buyer is willing to pay at a particular time; the ASKED QUOTATION is the lowest price the seller is willing to sell for. Together, the two prices constitute a quotation; the difference between the two prices is the SPREAD.
The bid (the highest price a buyer is prepared to pay for a trading asset) and the asked (the lowest price acceptable to a prospective seller of the same security) together comprise a quotation, or quote.
Real estate term describing the price wanted by the seller as opposed to the price a purchaser is willing to pay.