A global leader in electronic learning products from infancy through toddler and preschool and the world's largest manufacturer of cordless phones.

Waterborne  Paint Reverse Auction

Waterborne  Paint

This was a critical component and there were only 6 qualified and incumbent suppliers. All 6 suppliers came from Southern China.

Approximately USD 34,000

There were 2 similar models to source and buyer decided to group them into one lot. The winner with the lowest total price got awarded all 2 items. The intention was to increase competition.   Bidding opened for 30 minutes with automatic extensions during the last 2 minutes. Suppliers saw their Ranks only. 

The auction lasted 42 minutes, with 37 bids submitted. Historic price was USD 33,200 and winning supplier bedded  USD 29,700 for the whole lot. A great success despite the few number of suppliers that were able to participate.