Reverse Auctions on Matium allow buyers to share a material need with the entire Matium Network in an open setting where all bidders see the current lowest qualified offer price. As a seller, learn what to expect when you're bidding on a reverse auction on Matium.

Before you start bidding on a reverse auction, make sure that your company is linked with the buyer and everyone that works with the buyer is added as a representative. This is very important - only users listed as representatives for the buyer will be notified when there are updates on your bids.

Visit Directory in the left sidebar, find the buyer holding the reverse auction and click on their company card.

If you are not yet linked, click the Link button in the top right corner, add everyone from your company that works with this buyer as Representatives, and click Request to send a link request to the buyer.

If you are already linked, click the Linked button in the top right corner and then click Edit Reps. Add everyone from your company that works with this buyer as Representatives, and then click Submit.

Reverse Auctions can be found by navigating to Demand in the left sidebar, and then clicking on the Reverse Auction tab.

Click on a Reverse Auction to view detailed information on the material being requested, current lowest qualified offer price, and to place a bid. Any documents that the buyer has shared, such as images of the material they are looking for or terms of the auction, can be found by clicking on the Documents tab.

You can place a bid at any time while the auction is live by clicking the Respond to Request button in the upper right corner and providing detailed information on the material you would like to offer.

If you are subscribed to Matium Core, you will be prompted to select an existing Core Have or Inventory Item, or to create a new Core Have or Inventory Item. If you are not subscribed to Matium Core, you will be prompted to select an existing material or create a new one.

You will then be prompted to provide a name, description, offer weight, offer price and shipping terms that will be shared with the buyer. You may also upload pictures or other supporting documents.

Note that you will be shown the current lowest qualified offer price, so you can ensure yours is a competitive one. You may also submit more than one offer if you have multiple materials that meet the needs of the buyer.

All offers will be marked as Pending until they are reviewed by the buyer. The buyer will review the material specifications and match rating of your offer and mark it as either Qualified, Conditionally Qualified or Disqualified.

If your offer is marked as Conditionally Qualified, the buyer will reach out for either more information or to request a sample.

All offers will be shown at the bottom of the reverse auction detail page under My Offers. Click on an offer to view the details of your offer that was shared with the buyer and to message the buyer directly with questions about your offer.

If at any time you want to update your offer price to remain competitive in the reverse auction, click on the ellipsis icon on the offer card and select Update Offer.

You may also cancel an offer at any time by clicking on the ellipsis icon and selecting Cancel Offer.

Once the reverse auction ends, no more offers will be accepted. The buyer will accept the lowest qualified material offers that fill the full weight of their need. You will be notified if your offer has been accepted and you will be prompted to confirm the offer before the transaction is finalized.

Note that all offers are subject to the buyer's approval, and the buyer may, at their sole discretion, reject any offers, determine the winners of the reverse auction, or cancel the reverse auction at any time.