Reverse auction

A reverse auction is a type of auction in which the traditional roles of buyer and seller are reversed. Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by offering increasingly higher prices.

In contrast, in a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.

Back to Marketplaces →

Source: Wikipedia · Image: Wikimedia Commons · CC BY-SA 3.0

BIDBUT

Win the bid, not the regret — online-auction strategy, deal-hunting guides, and the calculators smart bidders use.

Get new guides by emailOccasional emails. No spam. Unsubscribe anytime.

InformationAbout Contact Privacy Policy Terms of Service Disclaimer Affiliate Disclosure Cookie Policy

Every museum entry, image, fact, and figure is drawn from Wikipedia and Wikimedia Commons, used under public-domain and Creative Commons licenses. No content is AI-generated.