Reverse Dutch Auction Software For Efficient Trade Between Seller And Customer
In the reverse auction, not the customer moves the price, but the seller. And the price goes down until it meets the budget of any buyer willing to buy the lot. Buyers witness suppliers lower the price in real-time and decide when to step in the reverse auction.
The Merkeleon platform provides multiple options for reverse auction customization and adaptation to your business process. Using this reverse auction software, you can run any type of online bidding website, like an auction for buying and selling, a regular reverse auction, a system with multiple designs of such auctions, etc.
Auctions Launched Worldwide
Business Domains Expertise
Years in Auction Solution Development
Auction Types
General Features
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Unlimited number of users and products -
Flexible customization of commissions and fees
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Integration with payment and analytics systems
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Email and SMS notifications
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Data export and import
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Overt/covert entry list
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Fiat and cryptocurrency
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Finance management
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Multiple kinds of reverse auction software
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Integrated CRM and reporting system
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Login via social networks
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Multilingual interface
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Inbuilt auction blog
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Mobile-friendly
All-in-1 Solution
The goal of this digital auction is to scale up profit for entrepreneurs and offer cost-efficient goods and services for buyers. It is a splendid system that promptly attracts emergent customers and consequent income.
Various reverse auction modes
Absolute confidentiality for bidders
Data import and export
Elaborate marketing inventory
Multiple payment methods
Reserve price option
Types of reverse auction
Auction websites gain more popularity every year. The sooner you realize their advantageous nature, the more prosperous your business will become because your competitors will stay behind. Today we provide many options to create an attractive website for a bidding auction based on the reverse variety.
Supplier’s admission
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Free
Any supplier can register and attend procurement bidding.
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Moderated
Procurers undergo preliminary pre-screening and approval.
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Limited
No one but invited providers can partake in an auction.
Visibility
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Visible
All bids are revealed, but their holders remain anonymous.
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Invisible
Only an auction holder, or a buyer in a reverse platform, knows all bids. A winner is chosen manually. A supplier can see their rate to the winning position.
Procedure
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Selling products/services
One supplier - many buyers who bid to obtain goods. The highest bid wins.
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Purchasing products/services
One buyer - many suppliers who offer their items. The buyer picks the winning offer directly.
Estimate
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Best value
The bid with the most favourable terms for a buyer wins.
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Best price
The highest bid wins.
Merkeleon reviews: popular stories from our customers.
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FAQ
How do online auction websites work?
Just like at offline auctions, there are sellers, bidders, winners, and losers. Before using such websites, visitors should sign up. Bidding is often time-limited and closes at its expiration. In most cases, it is free to bid, that is, only if a bidder wins, the provider will contact the winner for payment arrangements. Still, some types of auctions require paying beforehand.
What are the advantages of auctions over stores?
There are multiple types of auctions where you can hold sales. In this regard, online auctions are more flexible. You do not need to constantly monitor the flow. You simply check the maximum bid in the end. Online auctions have redefined shopping sales and become a better way to reach clients.
Are online auctions allowed in my country?
Each country has its legislation concerning this aspect. To get comprehensive information on this matter, you can contact the Merkeleon team, and our legal experts will surely guide you on your country’s jurisdiction in virtual biddings.
What software is better for a launch: developed from scratch or ready-made?
It plays no role as far as the quality is preserved. Yet still, newly-made software usually requires more launch time because certain adjustments should be made and some bugs fixed. The Merkeleon product for a reverse auction comprises 10 years of experience; it is easily modifiable, thus resulting in time and money savings.
Why does a reverse auction exist?
This model is convenient and efficient in the electronic trading of those assets whose market price is undetermined. Besides, it is also suitable for selling low-demand products.
How does a price break occur?
At first, an owner sets a price and number of reduction stages. Then, the start date is announced when buyers can bid. Eventually, biddings and price cuts take place, after which a winner is identified.
What is a reverse auction applicable for?
In this auction, the price declines so its purpose is reversed compared to more traditional auctions: to obtain more goods at the lowest price. The reverse auction process is dynamic; suppliers compete for a contract, offering alternatives and competing with one another. A reverse auction is a top-notch method for sourcing goods and services.
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