reverse auction

a.k.a. buyer's auction

An online auction in which sellers bid against each other to win a buyer's business. A reverse auction empowers the buyer (in this case, the end-user) to find the best deal. For example, Priceline.com sells airline tickets, hotel rooms, and additional products based on the price the consumer is willing to pay.

See also : revenue sharing  

NetLingo Classification: Online Business

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