What is a reverse auction and how does it work?

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What is a reverse auction and how does it work?

2007-04-14 05:44:39 · 2 answers · asked by Pam S 1 in Business & Finance ➔ Small Business

2 answers

A reverse auction is one where service providers bid against each other for providing a service. The "reverse" comes into play because the LOWEST bidder gets the job. It works exactly like any other auction, except for the lower bidder issue.

2007-04-15 08:44:40 · answer #1 · answered by jdkilp 7 · 1⤊ 0⤋

Reverse auction is type of auction, to win this user have to bid lowest and unique. For detail information http://qbid.bz/how-it-works.aspx

2014-08-21 23:53:20 · answer #2 · answered by ? 1 · 0⤊ 0⤋