Smart Auctions offers a 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.
Buyers publish the details and conditions of what they intend to buy.
Suppliers or vendors, invited by the buyer, will compete during the established time for the auction. Offers placed will be shown by ascending rank (starting from the lowest, up).
Once the auction timer reaches its deadline, the lowest price offered by a seller will be considered by the buyer.