share market invalid price

Hi,

If the value of shares has dropped and there is an old order in place, how can one purchase shares if you can not offer more than the old offer ie.

2 months ago some one makes a buy order of 1000. the shares are not worth 700 and I can only make a buy order of 770. 

Will the other offer get to buy the shares?

thanks

Yes, the higher (old offer) offer wins.