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  • I am acting as Buyer, and a supplier is telling me that no invitation to specific auction has been received. What to do?

Please send again the invitation with all documentation that you already have sent to other suppliers invited to the same auction. Be sure you have the right supplier email address. You can send as many invitations as required, in particular if you modified the auction before start. It is your responsibility that all invitees receive the same information.

  • Bought some auction Tokens but the balance doesn't appear updated in the upper ribbon, what to do?

It is possible that gateway confirmation of payment hasn't arrived yet to us. Sometimes takes a couple of minutes depending on your payment method. Please review later on Menu - Tokens - Historic Purchases or Menu - Tokens - Reviewing-Tokens. If you find there your last transaction, means that the newly quantity of tokens is already credited in our data base. In case of doubts, please use the menu contact, or send us an email to This email address is being protected from spambots. You need JavaScript enabled to view it. indicating the transaction number and the date.

  • Can I cancel an auction?

Yes, an auction can be cancelled if it has been opened by you, and if it has not started yet. By entering Menu - Buyers - Cancel an auction, you can have access to the list of auctions you are allowed to cancel. Token(s) corresponding to the cancelled auction will be returned to your account right after auction cancellation.

  • Can I modify an auction?

Yes, auctions opened by you can be changed if they have not started yet. However, Base Value or Currency can't be changed. Information like dates, times, specifications, terms & Conditions can be modified. If you require to change the Base Value or Currency, you will need to cancel the auction and create a new one.

  • How much time is my session active?

Thirty (30) minutes. After this time, if you don't perform any actitivy, the session will close. Please don't let session expire during the last minute of the auction. Refresh the page within the last thirty (30) minutes of the auction, this will guarantee that your session will not expire during the rest of the auction.

  • Winning the auction will assure the deal for me?

Not necessarily.  Depending on Terms and Conditions of the Buyer by auction opening. It can be about a RFQ auction type, looking for the best offer and subsequent Purchase Order issuing, or could be declared void, or it is about a simple budgetary quote. Please, be sure to know very well the Terms and Conditions of the buyer before auction start.

  • If I was acting as supplier on a bid, could I create my own auction and be a Buyer?

Of course. Any one (single persons and companies) can be Buyers or Suppliers. As Buyer you will need however credit (Tokes) to open your own reverse auctions.

  • Tokens can be trasferred to other buyers in my Company?

Yes they can. Via Menú : Tokens - Tokens Transfer. However, the courtesy Token can't be transferred.

Reverplace Auctions

Reverplace offers the most powerful online service of Reverse Auctions to buyers who are willing to obtain the best price for acquisition of goods or services, inviting sellers to compete for a business on the Web during a predetermined period of time.

Essentially, .... buyers publish on the Web Specs and Conditions of what they intend to buy, ... and then,  ....

Suppliers or Vendors, invited by the buyer, will compete during the established time for the auction. Offers made will be showed ranked ascending online (lowest up).

Once the auction timer goes to end, the lowest price offered by a seller will be considered by the buyer.

Simple Steps

Buyer

Register Buy Tokens Open Auction Invite

 

Supplier

Gets Invitation Register Participates on Auction

Obtain savings with your purchases ..... use Reverse Auctions!

Buyers at Reverplace

As Buyer, the best way to obtain the lowest prices on a deal is, without doubt, making compete the suppliers for the deal on a bid. This is the core purpose of reverse auctions .. getting savings for you. Reverse auctions are perfect for the acquisition of specific goods or services purchased during a period of time (blanked orders for goods and services). The main motivation on reverse auctions is the attainment of savings, since characteristics of items/services are well defined and the quality should be controlled by buyer during the agreed supply period. Register and participate as buyer. Important: Opening auctions require credit (Tokens).


Buyers define by means of a specific reference (Part Number / produtc Ref) or with help of a detailed description, what they intend to purchase, placing this information on a simple form, including purchase conditions like: Delivery place, delivery time, payment conditions, packaging, general terms and conditions, etc... and then,.. buyers invite suppliers to a reverse auction, where they underbid trying to get the deal.

Terms and Conditions of every auction are always determined by the buyer in the opening form or with an additional document accesible for all suppliers invited to the auction. They are sometimes simple like: "Payment terms 30 days net invoicing" or much more complex for big deals including Credit conditions, insurance bonds, warranty terms, quality standards, technician certifications, etc...

Buyers also are responsible for giving enough instruction to suppliers invited to the auctions, assuring that their offers will be in accordance to the terms and conditions requested.

Suppliers preparation

Suppliers have to be prepared to bid against other potential suppliers, reviewing in advance and thoroughly all specs and conditions of the bid, in addition to the required cost calculation, and assuring all the time, that the bidding process don't put in danger the resources of the company they are representing. Successful suppliers of reverse auctions are good prepared, with bullet proof and dynamic spreadsheets that can produce ONE (1) single value to be used in the auction with each bid, and know precisely the lowest bid they can do (the economical lowest offer), without sacrificing required quality.


Suppliers who review closely their own supply chain and its cost composition will always have an advantage bidding on reverse auctions.

 

Specific items with large volume sales (supplies / consumables), or long contract periods (services) with low margins, are the cases where suppliers need to be very precise on calculations, reviewing the whole supply chain.

Key elements to be reviewed by suppliers on a reverse auction:

  • Review the whole supply chain backwards (including their own suppliers and manufacturing processes)
  • Precise cost calculation.
  • Definition of the lowest economical limit for the auction.
  • Marketing of products with auction owner (buyer) previous to the auction.
  • Be conscious of the fact that competitors will offer the same exact product and the deal driver is mainly the lowest price.

Easy Instructions

In Reverplace you can be buyer or seller.

 

Any person registered can open a reverse auction to buy specific goods or services. However the auctions at Reverplace are not Public. Therefore, in order to participate on a reverse auction as a supplier by Reverplace, it is required for this seller to be invited by owner of the auction (the buyer). Buyers on the other side, need to have credit (Tokens) to be able to open an auction. Tokens can be purchased via PayPal or credit card on a secure connection, and the majority of auctions will require only one Token to be opened. One Token investment value = USD 10.


The first step is to get registered in Reverplace. Buyers can act in the name of companies, but it will be the responsibility of SELLERS to check the existence of this liaison Buyer (Owner of auction) with Representing Company at the moment they receive the invitation to the auction. Buyer is also clear about who invites, and which company the seller represents.

Buyers will issue for every auction Terms and Conditions (T&Cs) that sellers will read and accept before entering the auction.

Auctions can finish with a buyer/Company purchase commitment (decisional auctions), if Ts&Cs indicate this automatic decision; or they can be used as tool to obtain the lowest quote of a good or service (RFQ auctions), that later could be transformed in a purchase order (PO) or a contract.

Companies of an important size require to do RFQ-auctions in order to obtain the best price(s), and then buyers proceed to issue the corresponding purchase order in the ERP system for its approval. Awarded supplier will get the PO once approved.