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How to make a bid in a reverse auction

As a supplier, when you enter in a reverse auction you have to be clear about the specifications of good(s) or "scope of work" of service(s) to be provided in case you win the auction. Most certainly, you have already discussed details with the buyer before the auction start, and if required, you also got detailed documentation via email from him(her).
In the auction window you will see specs and terms summarized, but the complete conditions and documents are the one you already received from buyer prior the auction start.

 

Review always Currency and Base Value of the auction.

 

The field to place the bids is shown below, under section "Place a bid", and will be firm after click on "Ok" button.

Eventually, if you do mistakes, you can withdraw your offer with the button "Withdraw". This is however not available for the last 5 minutes of the bid. Don't wait until the last five(5) seconds of countdown to place your best offer, remember that internet connections have a delay of 3-4 seconds (and more depending on your connection speed).

 

 

Offer in reverse auctions

 

In order to place your bid, click on "Ok" button.

 


How much time is remaining, for the auction to be close?
On the right frame you will see the auction countdown and the remaining time.

 

Reverse auction countdown


Watch your resources

Reverse auctions report to buyers estimated savings between 10 and 14% in average. Particulary useful for purchasing of goods and tangible elements, but also usable for service contracts. 

Supplier tips by bidding

  1. Assure please a quick and reliable internet connection.

  2. Use Laptop or desktop for total screen view.

  3. As supplier, bidding on high value auctions, it is recommended having another person doing calculations on separate computer.

  4. Review always Currency and Base Value of the auction.

  5. Be clear about the lowest economic offer you are allowed to place based on financial calculations.

  6. If possible, during the auction process do not keep open other web-browser tabs, other browsers, or do not perform any internet software updating. Some of these cases can steal bandwith and reduce internet speed.

  7. Once in a while and specially if you have browsed other pages during auction, refresh the auction page with the refresh browser button

      

 

Video - Making offers

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