I don't understand the reverse auction.

I don't understand the reverse auction.

What is DubLi?

JangoMan, DubLi is a world wide on line trading company. It is comprised of two individual business models;    DubLi reverse auction, a portal for high level branded merchandise and DubLi Network,   the business opportunity where entrepreneurs, industrialists, sole proprietors, marketers, programmers, investors etc can establish their own business in a competitive market; with little if no risk.

AND

Jan, in a reverse auction the price of an item is actually driven down with each bid placed by potential buyers until a single lowest buyer is identified. At this time the auction concludes and the item is awarded to the "Lowest Bidder."   The concept was initially conceived, in the '90's,  as a way for companies to bid on available government and private sector contracts.

Did I help?  Hope so.

Hi KristenM,

The economy in the mid-90’s witnessed a particularly impressive economic growth. The "Lowest Bidder." concept would surely work.
What other sales/product concepts is dubli network using to work in this unfortunate recession?

You did help, thank you.

DaveM,

DubLi Network’s viral advertising has no product to promote, only an idea; customer-driven e-commerce. 'Give someone a few free “Credits” to shop; try out the auction and get low, low prices'.  However, you are correct about the economic boom of the 90's where the reverse auction would surely work.  But wouldn't that also mean that in a bad economy, such as now,  this same concept would REALLY work?   Despite a severe worldwide recession,  the Internet economy is booming. The Internet offers the consumer an infinite amount of choice without ever having to leave home. Saves on gas too.   

I pulled this from an article I read:

"The current global recession is actually helping! DubLi.com is not only the world’s first global trading portal, it is a pioneer in the field of reverse auctioning; selling top-level brands at rock-bottom prices...  "