noun
negotiated transaction; privately negotiated deal
A transaction where the terms are directly negotiated between buyer and seller, as opposed to a competitive auction or open market. Often used in securities or real estate contexts.
See also: 競売買 (きょうばいばい)
この株式は相対売買で取引された。
These shares were traded through a negotiated transaction.
相対売買は競売買と異なり、当事者間で価格を決める。
Unlike an auction, a negotiated transaction determines the price between the parties.