19.2 Reverse auctions
19.2.2 Traditional auction vs. reverse auction
The table below shows the primary differences between traditional and reverse auctions.
|
Traditional auction |
Reverse auction |
|
Item(s) offered for sale |
Items required to be purchased |
|
Multiple buyers compete for the purchase |
Multiple suppliers compete for the sale |
|
Price is driven up |
Price is driven down |
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