What Is Reverse Auction?

What Is Reverse Auction?
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  1. Unlike traditional auction where buyers bid for the products and services offered by sellers, in reverse auction seller bid price for the products and services they want the buyers to buy.
    In a reverse auction, sellers seek out buyers which is not a case in a traditional auction.
    Here sellers try to outbid other sellers by bidding as low as possible for the products and services.
    In a reverse auction the seller gives out information about the products and services that they want the buyers to buy.
    Here are some advantages of reverse auction:
    1. It is time saving
    2. Best price buy for consumers
    3. Comparing products and making decisions is easier for the buyer
    Here is an article to help you on the topic https://www.feedough.com/what-is-a-reverse-auction-how-does-it-work/

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