I am looking to buy a domain on SnapNames . The domain that I want is listed with a BIN price there, but when I go to the domain in my browser, it refers to SEDO with a fixed price of $8000

The BIN price in the snapnames.com database is just over $1000

Now if I buy it in snapnames using this BIN price, will I get the domain instantly for that amount?

How does this work exactly?

Thanks in advance for any answers.