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Contributed by claudia on Monday January 17, @01:07PM
ReverseAuction.com features two exciting Declining Price auction formats - Item auctions and Wanted auctions. During an Item auction, the price of a product or service decreases incrementally depending on the auction duration. As the price drops, buyers are able to "click" anytime to make a purchase. Once a purchase is made, the item is sold instantly, and the auction is over. The second format is a Wanted auction, employing the same declining price model, but with a twist. Buyers post detailed descriptions of the products and services they want - at the price they set - and sellers underbid each other for the business. he declining price concept of ReverseAuction.com will benefit both buyers and sellers. Buyers will make purchases instantly. They will find the new site to be quick, easy and fun - a more reliable and cost-effective way to buy on the Internet. For sellers, ReverseAuction.com is a complement to current distribution channels. They will move products and services more quickly, increase repeat business and generate greater sales by gaining exposure to qualified buyers all over the world.
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