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Articles / What is a Reverse Auction?
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What is a Reverse Auction? |
| By: admin, November 25, 2004 |
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| Views: 545 |
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| This kind of auction reverses the roles of seller and buyer. The buyer
puts out an RFQ for a given commodity and providers offer progressively
lower prices in hopes of getting the business. At the end of the
auction, the lowest bid wins.
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