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Reverse auctions

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Sun, 05/22/2011 - 08:45
Trias's picture
Trias

The current state of the market is one of lots of supply, and only little demand. That is, its a buyers market. This means that there is a good chance of auctions put up for low demand relatively common materials have a large probability of attracting no bids at all. This makes it a pain in the ass to offer these items, and as a result few people actually offer them.

For these items a reverse auction option would be an interesting option.

A reverse auction, is ( in case you don't know) an auction where the buyer instead of the seller puts up the auction. The buyer puts up an initial price, and sellers can put up "bids", with the seller that at the end of the auction offers the item for the lowest price "winning" the auction.

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