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


A reverse auction is an auction where the roles of buyer and seller are reversed and the primary objective is to drive purchase prices downward (as opposed to the rising prices in a regular auction).

In a reverse auction, sellers are competing to win business (as opposed to a regular auction where buyers compete for the right to purchase an item). Reverse auctions (which are also called e-auctions) are generally used in business-to-business procurement, and are usually conducted by way of e-sourcing software with an e-Auction component. Reverse auctions gained popularity in the late nineties and early noughts because many initial forays not only simplified and sped up the sourcing cycle, but generated significant returns for the early adopters. (Of course, for some early adopters the incremental returns on repeat applications on the same categories diminished rapidly when all the fat was trimmed from the margins or when the market conditions shifted back to support the supply side, but many companies still get a decent return on initial application for a new category, and reverse auctions still enjoy steady usage for this reason alone).

See more at: http://www.sourcinginnovation.com/glossary/ReverseAuction.php

Said about bestauction

  • Martin Gracka, CEO of Food producing company, EU

    Martin Gracka, CEO of Food producing company, EU

    Great businness helper!

    „Simple to use and intelligent than you can imagine. We procure any items or services with bestauction now. A really helpfull and cost saving tool.“

  • Andrea Chomski, Procurement manager, Austin - Texas

    Andrea Chomski, Procurement manager, Austin - Texas

    Significantly helps me to get results!

    „I searched for the building contractors and they’ve delivered in a few seconds in my area. I’m actually astonished at how quickly bestauction helps me to get results. Furthemore, using bestauction I’ve been able to get considerable price discount for building materials without a need going anywere to negotiate.“

  • Patric Goore, Parter, Wallenberg IT consultants

    Patric Goore, Parter, Wallenberg IT consultants

    We actively use the online eAuction for product procurement

    „We actively use the online reverse auction for product procurement , and in turn, we get the benefits in terms of more efficient and transparent purchasing process.“