Run a live reverse auction
Configure, launch and award a reverse auction — with a live demo room.
A reverse Auction flips a normal auction: invited suppliers compete to go lower, in real time, until the clock runs out. It's the fastest way to find a competitive market price when you have a clear, comparable specification.
Configure the auction
Auction settings control the dynamics. Start price caps the opening bid, the minimum decrement keeps each bid meaningful, and an anti-sniping extension stops last-second wins by extending the clock when a bid lands near the end.
| Setting | What it does | Typical value |
|---|---|---|
| Start price | The ceiling — no bid may exceed it | Your budget or last paid price |
| Minimum decrement | Smallest allowed drop between bids | 0.5%–2% of value |
| Duration | How long the room stays open | 20–45 minutes |
| Anti-sniping | Extends the clock on late bids | +2 min if a bid lands in the last 30s |
| Sealed / open rank | Whether suppliers see their rank | Open rank for stronger competition |
The 30-second blink is intentional
When under 30 seconds remain, the timer blinks for everyone. With anti-sniping on, a late bid resets that window — don't close the room manually while bids are still landing.
Watch a live room
This simplified bidding room shows suppliers competing in real time. Watch the leading bid fall and the rank order shuffle — then see the anti-sniping extension kick in near the end.
After the gavel
When the clock stops, the lowest compliant bid is your provisional winner. Awarding works exactly like any other event — resolve flags, confirm the award, and raise the PO.
Brief your suppliers first
Send a short message before the auction with the rules, the schedule and a test link. Confident suppliers bid more aggressively.
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Auction settings explained
Start price, decrement, duration, anti-sniping and rank visibility.
Create your first sourcing event
From an empty dashboard to suppliers receiving your invitation — with a hands-on demo.
A tour of your buyer workspace
The dashboard, the right rail, navigation and where everything lives.