Thursday, October 18, 2007

Reverse Auctions

Now I have never heard of aReverse Auction before. I've heard about reverse mortgages and I don't really agree with them. I think once your home is paid off you should keep it that way but who am I to judge.

This is how a Reverse Auction works. You initiate the auction by sending out purchasing specifications that detail what you want to buy at the time. Suppliers compete against each other in Web-based, real-time auctions to win your business, driving down the price in the process. Hmm, I don't really understand how thats any different from a regular auction. Maybe its because your not actually listing it on an auction site or anything so you save auction fees. I guess that way you will know if anyone is actually going to buy what you have before you waste time and money putting it up for sale. does outsourcing for this sort of thing and you might consider having them do it for you and saving some time.


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