SBLreverse auction in E-business

In a normal auction, purchasers bid for items, and the person who places the highest bid usually ends up with the item.

With a reverse auction, the buyer advertises for an item or a service. Sellers then place bids for the amount they expect to be paid. Generally, the seller who places the lowest bid will win..

It could be C2B or B2B.

'lowest bid will win.. '
lowest????I am puzzled.

FOR seller,is the revenue the more the better.
???

thax

'lowest bid will win.. '
lowest????I am puzzled.

FOR seller,is the revenue the more the better.
???

thax

Yes, but this is essentially a tendering process. The buyer says "I want to buy X". Sellers make offers and the buyer will choose the lowest price offered. Sellers have to steer a careful course between offering to supply at a relatively high price (and not winning the contract at all) and offering to supply at a very low price, winning the contract but not making much profit, or worse, making a loss.

HTH

got it
thax
:)