1. adjective Sold at an extremely low or reduced price; very inexpensive. The term comes from a bin or some other container in a store or shop where very inexpensive items or those at greatly reduced prices are sold. I found these great bargain-bin sneakers on the clearance rack at the shoe store.
2. adjective Of very poor or inferior quality; having very little or no value. It's no wonder your bargain-bin phone has stopped working. If you want a phone that lasts, you have to pay the price for it.