Posts Tagged ‘online reverse auction’

Online Auctions

auction site | Posted by rosita dian
Feb 26 2010

Online Auctions As Fun & Skill-based Entertainment

Executive summary about online auctions by Darcy John

Unique Auction Concept

charity online auctions

This article is about online auctions and a unique concept that causes the price to go down not up! Using unique reverse auctions as well as penny auctions  bidders can aquire new cars, travel, name brand technology items and much more. In reverse auctions the price goes down instead of upward.

People spend a bid credit to reveal a concealed price and everytime this happens  the auction price drops! The price drop is a percentage of the value of the bid credit. The balance of the vaue of the bid credit  covers running costs, cost of products, delivery, freight and so on.

How Do These Auctions Work?

If the time runs out without another bid the current bidder is the auction winner. Moving new products is the motivation for those conducting the online auctions.

Name Brand products

With this auction concept all the products are:

  1. Brand New
  2. Respected Brand Names
  3. Delivered to Bid Winners Freight Free.

When you visit the online auctions site you will see some of those top brands in:

  1. Technology
  2. Electronics
  3. Automobiles
  4. Entertainment Products
  5. Special Ladies Items
  6. Fashion & Accessories

You Choose Which Auction House

The several auction houses offer varied ways to have fun while participating in the following online auctions:

  1. Penny & Nickel Auctions
  2. Bid To Zero
  3. Buy Before Zero
  4. Unique Bid
  5. 100% Discount
  6. Set price

Charity auctions are planned as well. Each of these auction houses allows you to buy and obtain name brand products at discounts up to 70% -100% off. The Penny Auctions can be very quick because they are on timers. Mostly they need a bid every 10 seconds to stay active. If the time elapses and you are the current bidder then you win the auction!

Then as you place bids on an item you would like to aquire you’ll see the number of available bid credits reduce. If you win the bidding in any auction house you pay the actual auction price except if it is a zero auction then you don’t pay anything! You as a Customer or a Business Associate

To become an online auctions customer and use this unique auction concept you need to be sponsored-in by a business associate.You register free online and to start you can just purchase $20 worth of bid credits which is 30 bid credits. A customer can upgrade to a business associate at any time.

Every new product that winning bidders aquire will be at a heavy discount  or free. Delivery costs don’t apply! The cost for every bidder is the purchase of bid credits. Coming into the Buy Before Zero auction house when the price is right for you and into the Bid To Zero auction near zero will reduce your outlay on bid credits.

The real time bidding technology is innovative and helps ensure the accuracy of timed bids as in the Penny auctions.

Check out the other guide on ebay reverse auction or auction site

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Online Reverse Auction

reverse auction | Posted by rosita dian
Feb 03 2010

What is Online Reverse Auction?

Executive summary about reverse auction by Ron Victor

Reverse auction deals with internet auction and e-purchasing. This is also known by many names like procurement auction, sourcing event, e-sourcing, and e-auction. In the case of reverse auction, buyer makes an advertisement on the need of an item or service. The seller who places the lowest bid will win the job or sell the item.

online reverse auction

Lot of planning is required when reverse auction takes place on Internet. In the meeting, purchaser and seller discuss the requested service. If the buyer wants to purchase an item, certain things like age of the item and quality of the item may be discussed beforehand. On average, individuals and companies save from 10 to 40 percent on reverse auction purchases. Reverse auction also saves valuable time of buyers.

As the popularity of online reverse auction has increased, also buying services and supplies online. Savings, simplicity, and selection of reverse auctions make them the ideal choice for anyone looking to join the internet auction purchasing revolution. Certain benefits on online reverse auction are there is flexibility in pricing decisions. Applicability of online reverse auctions is for capital goods, direct materials, periodical rate contracts and large volume goods.

Check out other information on reverse auction bid

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Reverse Auction

reverse auction | Posted by rosita dian
Feb 01 2010

What is a Reverse Auction?

Executive summary about reverse auction by Jenny Zhang

reverse auction

The lowest unique bid is the amount closest to 1 cent that has only been bid by one person.

Reverse auction turns the traditional auction model on its head by declaring the winner to be the person who places the lowest unique bid. If there is no unique bid at the end of the auction, the lowest bid made by only two bidders is used, and the person who places their bid first wins.

Bid No. of bids Outcome

0.01 cent 4 Lowest, but not unique

0.02 cent 1 Lowest unique bid

0.03 cent 0 No bids

0.04 cent 2 Not unique

0.05 cent 1 Unique, but not the lowest

0.06 cent 3 Not unique

The Use Of Reverse Auctions In Business – Frequently Asked Questions

Executive summary about reverse auction by selectsourcing

In business the use of online ‘e-sourcing’ tools such as e-tenders and e-auctions is becoming commonly used to help buyers achieve rapid cost reduction. In this scenario suppliers are invited to bid for the buyer’s contracts either by submitting their tender online and/or participating in a reverse auction.

e-Sourcing is the use of internet technology used by purchasing professionals to find suppliers and negotiate prices for a wide range of goods and services.
Traditionally buyers send out tenders listing the purchasing requirements and invite suppliers to submit prices. Each supplier submits one bid and does not have the opportunity to adjust his or her pricing in response to other bids. What is an on-line reverse auction (e-auction)?
Reverse auctions are an ideal way for buyers to reduce the costs of goods and services, streamline the procurement process and increase profitability.

A fully managed service incorporates a spend analysis of your company expenditure, suitable selection of e-auction categories, strategic category objectives, supplier research, developing lotting strategies, drafting the Invitation to Tender, management of suppliers, hosting the software, training the suppliers (inc helpdesk), managing the e-auction and post event review.

How do suppliers benefit?
Suppliers benefit in the following ways:-
A more fair, more competitive bidding environment
Ability to benchmark prices across their industry
Shorter sales cycles
Wider access to potential business opportunities

Do Suppliers have to pay anything?
No costs are levied to the suppliers for using our services

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