Use reverse auction in a sentence
Construction companies take advantage of reverse auctions frequently, as it is a place to directly offer a bid on a new project to a customer.
The North Carolina Department of Transportation decided to choose Caterpillar from the reverse auction because they delivered met the specs with the best piece of equipment at the best price with their bid.
Many times when public sector companies are looking for a contract, they may into a reverse auction. Here, businesses compete in offering their services, for the companies price.