REVERSE AUCTION
HBI has an eye and an ear in each of the major international markets, enabling you to check what is the best option to source or sell your products at any given time.
â—— REVERSE AUCTION
Reverse auctions are an alternative to traditional tenders. HBI has set up a platform which has held dozens of auctions since 2000. The added value of holding your auction with HBI is that we can give advice on the critical decisions which command the success of the operation.
First of all the timing must be carefully worked out to coincide with the moment when markets are ripe and sellers willing to cooperate. Secondly HBI will advise how to calibrate the starting price to attract sufficient sellers for the auction to be a success.
It is a powerful procurement tool: an auction where the roles and price directions are reversed. One buyer invites multiple selected sellers who will successively give their best offer during a defined period of time.
The winner is the seller having offered the lowest price at contractual conditions.
/ A Fast and Transparent Auction System
Results in 30 Minutes, Equal Rules for All, and the Best Prices Driven by Real-Time Competition
Fast
it only takes 30 minutes
Transparent
the rules are the same for all participants and the auction results are auditable.
Best
price for buyer as competition is stronger when the price is live on the screen.
Real market price information
for sellers as actual offers are displayed on the screen.
