as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain what a reverse auction is
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a reverse auction is an auction process in which buyers post the item they want to purchase and invite sellers to bid against each other to offer the greatest discount or best value. sellers compete to offer the lowest prices, and buyers use the bidding process to find the best deal.
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