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History for Buyer-Driven Auctions (history as of 07/24/2014 09:17:05)

A buyer-driven auction is where there are multiple sellers bidding competitively in order to provide product to individual buyers. One example is a reverse auction, which allows users to submit a request for goods and services to be bid on by suppliers.  In a reverse auction the lowest bid does not automatically win. Sometimes the buyer would award the contact due to the quality, location, or other considerations.

  

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