Reverse Auction

A Reverse Auction is an event usually used as the last leg of sourcing and tendering to obtain the best price byencouraging competition among bidders on price. It is hosted by a single buyer and features two or more suppliers competing for business. It is called reverse because during the auction, the price can only come down.

In a reverse auction, the buyer places a need for an item or service. Several sellers offer their items for bidding, and compete for the price they expect to be paid in order to perform such a service or provide such an item. Generally, the seller who places the lowest bid will win the job or sell the item.

This "real time" bidding feature makes the bidding more competitive, as sellers attempt to outbid each other in order to win a job or to sell an item. The buyer usually has the option to accept any bid or reject all. At the end of the day, the objective of this type of auction is to lower purchase prices for the buyer.

Route to success as a supplier in reverse auctions includes:

  • Thorough preparation - it's essential to know your costs, your suppliers, your requirements, and your market to the greatest extent possible - minute details can make the difference between winning and losing business. Our advice would be to calculate your initial prices and the lowest price you would go to secure the business then create a series of bids in between the two figures to submit during the auction.
  • Have a strong, competent bidder to front your effort during the auction. Your lead should be completely familiar with the auction technology in use and most importantly be clear when to bid and when to close.
Advantages of Reverse Auction:-
  • Time efficient as the awarding decision time reduced from weeks and months of sourcing of the traditional tendering method
  • Provides insight to bidders on the competitiveness of their rates and comparative ranking amongst peers
  • Increases transparency in the process by reducing paperwork
  • Helps breaks cartels and monopolies of a select few suppliers and increases the options for the buyers
  • Price-competitiveness is the key factor for determining the final outcome

Reverse Auction Catalogue

DATE AUCTION NO AUC. TYPE COMPANY NAME PARTICULARS
06-07-2020 to 06-07-2020
11:00:00 Hrs
R-20-994 e_auction ITC-ABD Kaladera Hub Wheat Procurement
06-07-2020 to 06-07-2020
11:00:00 Hrs
R-20-990 e_auction ITC-ABD Kota Hub Wheat Procurement
06-07-2020 to 06-07-2020
11:00:00 Hrs
R-20-991 e_auction ITC-ABD Baran Hub Wheat Procurement
06-07-2020 to 06-07-2020
11:00:00 Hrs
R-20-992 e_auction ITC-ABD Bundi Hub Wheat Procurement
06-07-2020 to 06-07-2020
11:00:00 Hrs
R-20-993 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
06-07-2020 to 06-07-2020
16:00:00 Hrs
R-20-1030 e_auction ITC-ABD Kaladera Hub Wheat Procurement
06-07-2020 to 06-07-2020
16:00:00 Hrs
R-20-1026 e_auction ITC-ABD Kota Hub Wheat Procurement
06-07-2020 to 06-07-2020
16:00:00 Hrs
R-20-1027 e_auction ITC-ABD Baran Hub Wheat Procurement
06-07-2020 to 06-07-2020
16:00:00 Hrs
R-20-1028 e_auction ITC-ABD Bundi Hub Wheat Procurement
06-07-2020 to 06-07-2020
16:00:00 Hrs
R-20-1029 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
04-07-2020 to 04-07-2020
11:00:00 Hrs
R-20-951 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
04-07-2020 to 04-07-2020
11:00:00 Hrs
R-20-950 e_auction ITC-ABD Bundi Hub Wheat Procurement
04-07-2020 to 04-07-2020
11:00:00 Hrs
R-20-949 e_auction ITC-ABD Baran Hub Wheat Procurement
04-07-2020 to 04-07-2020
11:00:00 Hrs
R-20-948 e_auction ITC-ABD Kota Hub Wheat Procurement
04-07-2020 to 04-07-2020
11:00:00 Hrs
R-20-952 e_auction ITC-ABD Kaladera Hub Wheat Procurement
04-07-2020 to 04-07-2020
15:00:00 Hrs
R-20-973 e_auction ITC-ABD Kota Hub Wheat Procurement
04-07-2020 to 04-07-2020
15:00:00 Hrs
R-20-974 e_auction ITC-ABD Baran Hub Wheat Procurement
04-07-2020 to 04-07-2020
15:00:00 Hrs
R-20-975 e_auction ITC-ABD Bundi Hub Wheat Procurement
04-07-2020 to 04-07-2020
15:00:00 Hrs
R-20-976 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
04-07-2020 to 04-07-2020
15:00:00 Hrs
R-20-979 e_auction ITC-ABD Kaladera Hub Wheat Procurement
03-07-2020 to 03-07-2020
11:00:00 Hrs
R-20-925 e_auction ITC-ABD Kota Hub Wheat Procurement
03-07-2020 to 03-07-2020
11:00:00 Hrs
R-20-930 e_auction ITC-ABD Baran Hub Wheat Procurement
03-07-2020 to 03-07-2020
11:00:00 Hrs
R-20-931 e_auction ITC-ABD Bundi Hub Wheat Procurement
03-07-2020 to 03-07-2020
11:00:00 Hrs
R-20-932 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
03-07-2020 to 03-07-2020
15:00:00 Hrs
R-20-944 e_auction ITC-ABD Kota Hub Wheat Procurement
03-07-2020 to 03-07-2020
15:00:00 Hrs
R-20-945 e_auction ITC-ABD Baran Hub Wheat Procurement
03-07-2020 to 03-07-2020
15:00:00 Hrs
R-20-946 e_auction ITC-ABD Bundi Hub Wheat Procurement
03-07-2020 to 03-07-2020
15:00:00 Hrs
R-20-947 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
02-07-2020 to 02-07-2020
11:00:00 Hrs
R-20-890 e_auction ITC-ABD Kota Hub Wheat Procurement
02-07-2020 to 02-07-2020
11:00:00 Hrs
R-20-892 e_auction ITC-ABD Baran Hub Wheat Procurement
02-07-2020 to 02-07-2020
11:00:00 Hrs
R-20-896 e_auction ITC-ABD Bundi Hub Wheat Procurement
02-07-2020 to 02-07-2020
11:00:00 Hrs
R-20-899 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
02-07-2020 to 02-07-2020
03:00:00 Hrs
R-20-907 e_auction ITC-ABD Baran Hub Wheat Procurement
02-07-2020 to 02-07-2020
03:00:00 Hrs
R-20-906 e_auction ITC-ABD Kota Hub Wheat Procurement
02-07-2020 to 02-07-2020
03:00:00 Hrs
R-20-908 e_auction ITC-ABD Bundi Hub Wheat Procurement
02-07-2020 to 02-07-2020
03:00:00 Hrs
R-20-909 e_auction ITC-ABD Nimbahera Hub Wheat Procurement
24-06-2020 to 24-06-2020
11:00:00 Hrs
R-20-818 e_auction ITC-ABD Bundi Hub Wheat Procurement
24-06-2020 to 24-06-2020
11:00:00 Hrs
R-20-817 e_auction ITC-ABD Baran Hub Wheat Procurement
24-06-2020 to 24-06-2020
11:00:00 Hrs
R-20-809 e_auction ITC-ABD Kota Hub Wheat Procurement
23-06-2020 to 23-06-2020
13:00:00 Hrs
R-20-802 e_auction ITC-ABD Bundi Hub Wheat Procurement
23-06-2020 to 23-06-2020
13:00:00 Hrs
R-20-801 e_auction ITC-ABD Baran Hub Wheat Procurement
23-06-2020 to 23-06-2020
13:00:00 Hrs
R-20-800 e_auction ITC-ABD Kota Hub Wheat Procurement
22-06-2020 to 22-06-2020
13:00:00 Hrs
R-20-787 e_auction ITC-ABD Bundi Hub Wheat Procurement
22-06-2020 to 22-06-2020
15:00:00 Hrs
R-20-785 e_auction ITC-ABD Kota Hub Wheat Procurement
20-06-2020 to 20-06-2020
13:00:00 Hrs
R-20-772 e_auction ITC-ABD Bundi Hub Wheat Procurement
20-06-2020 to 20-06-2020
13:00:00 Hrs
R-20-770 e_auction ITC-ABD Baran Hub Wheat Procurement
20-06-2020 to 20-06-2020
13:00:00 Hrs
R-20-769 e_auction ITC-ABD Kota Hub Wheat Procurement
19-06-2020 to 19-06-2020
13:00:00 Hrs
R-20-757 e_auction ITC-ABD Kota Hub Wheat Procurement
19-06-2020 to 19-06-2020
13:00:00 Hrs
R-20-758 e_auction ITC-ABD Baran Hub Wheat Procurement
19-06-2020 to 19-06-2020
13:00:00 Hrs
R-20-759 e_auction ITC-ABD Bundi Hub Wheat Procurement
18-06-2020 to 18-06-2020
13:00:00 Hrs
R-20-744 e_auction ITC-ABD Kota Hub Wheat Procurement
18-06-2020 to 18-06-2020
13:00:00 Hrs
R-20-745 e_auction ITC-ABD Baran Hub Wheat Procurement
17-06-2020 to 17-06-2020
13:00:00 Hrs
R-20-732 e_auction ITC-ABD Baran Hub Wheat Procurement
17-06-2020 to 17-06-2020
13:00:00 Hrs
R-20-731 e_auction ITC-ABD KOTA HUB WHEAT PROCUREMENT
16-06-2020 to 16-06-2020
13:00:00 Hrs
R-20-717 e_auction ITC-ABD Kota Hub Wheat Procurement
16-06-2020 to 16-06-2020
13:00:00 Hrs
R-20-718 e_auction ITC-ABD Baran Hub Wheat Procurement
13-06-2020 to 13-06-2020
14:00:00 Hrs
R-20-687 E-Auction ITC-ABD Kota Hub
29-05-2020 to 03-06-2020
13:55:00 Hrs
R-20-598 Reverse Auction Demo Company For Buying Packing materials
03-05-2020 to 03-05-2020
11:35:00 Hrs
R-20-597 Reverse Auction Demo Company For Logistics & Transport Contracts
27-04-2020 to 27-04-2020
18:26:00 Hrs
R-20-596 Reverse Auction Demo Company ABC
21-04-2020 to 21-04-2020
10:00:00 Hrs
R-20-595 Yankee Auction Demo Demo Company TRUCK 1
17-04-2020 to 30-04-2020
11:00:00 Hrs
R-20-593 Yankee Testing Demo Company Agro Products
15-04-2020 to 30-04-2020
00:00:01 Hrs
R-20-592 E-Procurement Testing Company Agro Products
13-04-2020 to 13-04-2020
15:00:00 Hrs
R-20-591 Reverse Auction Demo Company For buying various Connectors
13-04-2020 to 13-04-2020
15:00:00 Hrs
R-20-590 Reverse Auction Demo Company For Buying Cable assembly Components
13-04-2020 to 13-04-2020
11:00:00 Hrs
R-20-589 ITC ABD - Demo Aucti ITC Wheat Procurement
11-04-2020 to 11-04-2020
17:00:00 Hrs
R-20-586 E-Procurement ITC Agro Products
11-04-2020 to 11-04-2020
13:00:00 Hrs
R-20-587 e-auc Demo Company e-auc
09-04-2020 to 09-04-2020
12:00:00 Hrs
R-20-583 Reverse Auction Demo Company Buying Electrical Components
09-04-2020 to 09-04-2020
10:00:00 Hrs
R-20-580 Reverse Auction Demo Company Demo
07-04-2020 to 07-04-2020
16:00:00 Hrs
R-20-581 e-auction Demo Company Demo Auction
02-04-2020 to 02-04-2020
10:00:00 Hrs
R-20-579 Reverse Demo Company Demo
31-03-2020 to 31-03-2020
13:00:00 Hrs
R-20-577 Reverse Auction Demo Company Electrical Components
26-03-2020 to 26-03-2020
11:00:00 Hrs
R-20-575 ESL Demo Auction Demo Company ESL Demo Auction
25-03-2020 to 26-03-2020
16:00:00 Hrs
R-20-576 E-Procurement for X Demo Company Steel 404, Steel 405
13-03-2020 to 13-03-2020
12:00:00 Hrs
R-20-572 Reverse Demo Company Electrical Items
13-03-2020 to 13-03-2020
10:00:00 Hrs
R-20-571 Reverse Demo Company Structural steel
12-03-2020 to 12-03-2020
10:00:00 Hrs
R-20-569 Reverse auction Demo Company Demo Auction
04-03-2020 to 04-03-2020
17:45:00 Hrs
R-20-567 For structural Steel Demo Company 1 Structural Steel Materials
24-02-2020 to 24-02-2020
10:00:00 Hrs
R-20-562 e-auction Demo Company e-auction
21-02-2020 to 22-02-2020
10:00:00 Hrs
R-20-560 Dummy Dalmia Cement (Bharat) Limited DUMMY
20-02-2020 to 20-02-2020
10:00:00 Hrs
R-20-558 e-auction Demo Company sale of ms scrap