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Reverse Auctions

Reverse Auctions is a feature of Nash OS for eCommerce and allows your site run reverse auctions.

What are Reverse Auctions?

Reverse Auctions are when buyers offer the lowest price for a service provided by a business.

Since among your site members can be businesses that offer bidding on their provided services therefore that could be buyers that may like to purchase such services. However in reverse type of auctions is the lowest offer wins the bidding.

EXAMPLE: there could be many service providers that would like to get any paid projects, but payers (also known as buyers or bidders) only look for the most affordable service providers, as result of that they place bids on various service providers and see which one is the cheapest. Keep in mind that down-balling is not allowed in such reverse auctions, all bids must be placed gradually in certain increments set by the site admin.

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