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Reverse Auction
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The term reverse auction is a type of auction in which sellers bid for the prices at which they are willing to sell their products or services.  In addition, the auctions would match buyers  and sellers in the marketplace (or exchange) to transact in quantity at any time. Sellers then place bids for the amount they are willing to be paid for the good or service. At the end of the auction, the seller with the lowest bid generally wins.

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