According to Wikipedia...
"A Reverse auction is a strategy used by many purchasing and supply management organizations for spend management, as part of strategic sourcing and overall supply management activities.
In a typical non reverse online auction, the seller puts an item up for sale. Multiple buyers bid for the item, and one or more of the highest bidders buy the goods at a price determined at the conclusion of the bidding in the online auction.
In a online reverse auction, a buyer contracts with a market maker to help make the necessary preparations to conduct the reverse auction. This includes: finding new suppliers, training new and incumbent suppliers, organizing the auction, managing the auction event, and providing auction data to buyers to facilitate decision making during an online reverse auction.
Several MLM Companies or Network Marketing or Multi-Level Marketing company have picked up the concept of mlm reverse auction in order to auction everyday items to a membership that pays monthly for bid credits in order to win well priced items in the MLM Reverse Online Auction. Reverse Auction MLM can be a lucrative business opportunity."
The concept has been picked up by MLM Companies recently so we now have MLM Reverse Auctions. Sounds like a great concept..
http://www.zappadealbiz.com for someone who is capitalizing on the mispelling of one of the MLM Online Auctions out there.
http://www.dubli.com seems to be another one.
See for yourself, scam? Fad? Legitimate way to get some GREAT deals? The jury is still out, but the concept of MLM Reverse Auctions sure seems to be gaining steam worldwide.
Sunday, December 21, 2008
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