Introduction
An Auction can be Forward or Reverse.
| Forward Auction | Buyers compete to obtain goods or services by offering increasingly higher prices. |
|---|---|
| Reverse Auction | The suppliers compete to obtain business from the buyer and prices will typically decrease as the suppliers underbid each other. |
An auction also has three main stages of draft, conduct and analyze like event. The draft for an auction contains a lot which may include simple item and item table.