Write For Us

What is a reverse auction ?

E-Commerce Solutions SEO Solutions Marketing Solutions
847 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

Danielle
Published
A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In an ordinary auction (also known as a forward auction), buyers compete to obtain a good or service by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers undercut each other.
Reference: http://en.wikipedia.org/wiki/Reverse_auction
Created at http://www.b2bwhiteboard.com
Category
Education
Be the first to comment