what is the difference between a forward auction and a reverse auction 
forward auctions are the opposite of a reverse auction in a forward auction the auction is initiated by the seller and the buyers bid the price up the bottom linereverse auctions can make a lot of sense when there are many sellers in the market and price is the most important factor they save time and money which is no small thing for a business although sometimes this can come at the cost of sacrificing quality detailed contract specifications should rule out suboptimal quality goods and services winning bids however depending on the good or service in question sometimes it is better and generally more efficient over the long run to pay a little more for greater quality the old adages you get what you pay for and cheap for a reason apply here for some goods and services this may not be an issue for others it is a game changer 