reverse English auction

reverse English auction definition - finance
An auction that has one buyer and many sellers. Bidders offer decreasing prices to be able to sell their product to the buyer. The price of bids decreases until an item can be sold. This technique is used on Internet-based auctions.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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