Recent succesful bidders:
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Name: Notebooks / Value: 3,230 Eur / Location: Bratislava (SVK) / Keyword: hardware, laptops, Bratislava, Stare Mesto Name: Limousine Services / Value: 10,890 USD / Location: New York (U.S.) / Keyword: VIP transport, taxi, limousine services, NYC Name: Car insurance / Value: 2,500 SEK / Location: Lulea (SWE) / Keyword: Insurance, Sweden Name: Office Stationery / Value: 98,295,284 IDR / Location: Bengaluru (India) / Keyword: Letters, envelopes, toners, office equipement, Bengaluru, Karnataka Name: Glass wine bottles / Value: 862,160 CNY / Location: Shadong (China) / Keyword: Glass containers, glass wine bottles, glass jar, China Name: Translation Services / Value: 37,792 PLN / Location: Krakow (Poland) / Keyword: Official language translation services, Krakow Name: Roof tiles / Value: 49,954 HRK / Location: Brela (Croatia) / Keyword: Tiles, building materials, Croatia, Split Name: Legal Counsel / Value: 68,500 Eur / Location: Cagliari (Italy) / Keyword: Legal advisory, law services, legal counsel, Italy, Sardegna Name: Long-term hotel accomodation / Value: 149,600 Eur / Location: Munich (Germany) / Keyword: Hotel accomodation, hotel services, Munich, luxury hotels Name: Car rental services / Value: 25,320 USD / Location: San Rafael (Argentina) / Keyword: Car rental, passenger car, leasing Name: Heavy truck tires purchase / Value: 1,156,500 RUB / Location: Krasnogorsk (Russia) / Keyword: Truck tires, Krasnogorsk, Moscow district Name: Mobile Devices / Value: 4,540 USD / Location: Pittsburg (U.S.) / Keyword: Mobile devices and accessories, Pittsburg, Samsung Galaxy S6

The power of competition

As long as the buyer has a pool of qualified suppliers that are willing to participate in a reverse auction, the price disclosure will probably drive the price lower. In a reverse auction, it is the power of the market and competitive bidding, not the buyer bullying the vendor that drives the pricing lower. Suppliers then respond to these market price signals and adjust their pricing lower accordingly.

Time savings

Buyers increasingly view reverse auctions as “a time-saving tool” that helps them to focus on more value-added functions in their jobs that handling bids, paperwork, and routine communications. Indeed, one of the principal differences – and advantages – of reverse auctions over other procurement and negotiation methods is time.

Key Features

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