reverse auction

Frequency: 3.51.1 per million words

an auction where sellers bid for the prices at which they are willing to sell

auctionADJECTIVE + NOUN

Categories:

reverse

Examples (10)

  • In a reverse auction, the price is driven steadily down.
  • The government used a reverse auction to procure services at the lowest possible cost.
  • Our company saved millions by sourcing raw materials through a competitive reverse auction.
  • We won the contract by placing the most competitive bid in the online reverse auction.
  • Have you ever participated in a reverse auction to get freelance work?
  • The platform will be hosting a reverse auction for transportation contracts next week.
  • Unlike a traditional auction, a reverse auction involves sellers bidding against each other to win a buyer's business.
  • The procurement department is implementing a new software designed to facilitate the reverse auction process.
  • The winning bid in the reverse auction was surprisingly low, leading to significant savings for the client.
  • Understanding how a reverse auction works is crucial for any supplier wanting to compete for large contracts.