reverse auction
noun[C]
ukusCOMMERCE
anoccasionwhen severalcompaniescompetetoofferthelowestpricesforsupplyinggoodsor doing ajob:
Thecontractingbodywill use anelectronicreverseauctionfor theprocurementprocess.
Examplesofreverse auction
reverse auction
In the past few years mobilereverseauctionhave evolved.
From
This example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Multiple rounds can follow or even areverseauctioncan follow to generate the best market price.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.This led to a consolidation of thereverseauctionservice marketplace.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The start price was used to show the starting price of thereverseauction, but was not used to represent a value or worth.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.In areverseauction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers undercut each other.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Their findings appear to support that argument, as competition correlated strongly with thereverseauctionsuccess, as well as with the number of bidders.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Unlike traditional auctions, thereverseauction(or low-bid auction) bills the consumer's phone each time they place a bid.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.It was the firstreverseauctionchannel of its kind in the world.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Areverseauctionis different in that a single buyer offers a contract out for bidding (by either using specialized software or through an online marketplace).
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.In areverseauction, sellers bid rather than buyers.
From theCambridge English Corpus
These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
- terminuses
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