Reverse auctions

Reverse auctions are also known as e-auctions and online auctions.
They are an internationally proven purchasing method where suppliers compete to negotiate the purchase price.

Ranked Auction

With a ranked auction, buyers set an opening price for the auction. Vendors can only see their ranked position based on the bids that they have placed. The ranking is in relation to the other participants' bids.

Vendors can place multiple bids during the course of the live auction

Open Auction

In open auctions, buyers set an opening price for the auction. Vendors can view their own bid as well as the ranked position and value of the bids of all auction participants. The names of the other participants are anonymous.

Vendors can place multiple bids during the course of the live auction.

Sliding Auction

In sliding auctions, the buyer sets the opening price of the auction. During the auction, the price reduces in set increments and each vendor decides the price that they want to place a bid. The auction continues until there are no more participants bidding.

Vendors can place one bid only.

Tender Auction

With a tender, vendors place a single bid prior to the deadline date set by the buyer.

Vendors can place one bid only.

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