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Siebel eAuction Guide > Siebel eAuction Overview > Auction Types >
Reverse Auction
A Reverse auction secures the lowest price for an item or a service by using a bid-down principle in which the lowest bid is the winning bid. Requests for Quotes (RFQs) are considered a type of Reverse auction.
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Siebel eAuction Guide Published: 18 April 2003 |