Maximize the value of surplus assets, equipment, inventory and other sale opportunities with real-time competitive bidding. ProcureClix Forward Auctions bring qualified buyers together in a transparent digital environment where competition drives bids upward.
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Forward Auction
A forward auction is a seller-led e-auction in which multiple buyers compete to purchase an asset, product or opportunity. Unlike a reverse auction, where suppliers compete by lowering their prices to win a buyer's business, a forward auction moves in the opposite direction: buyers compete by increasing their bids.
The seller establishes the opening price and auction rules. Qualified buyers participate in a live online bidding event, submitting increasingly competitive offers until the auction closes. The highest valid bidder can then be selected according to the seller's predetermined rules.
ONE SELLER
MULTIPLE BUYERS
BIDS INCREASE
HIGHEST QUALIFIED BID
Comparison
One seller, multiple buyers
Buyers compete for the opportunity
Bids typically move up
Goal: Maximize selling value
Highest acceptable bid typically wins
One buyer, multiple suppliers
Suppliers compete for the opportunity
Bids typically move down
Goal: Optimize purchasing value
Best qualified supplier offer wins
How It Works
Define the asset or lot, starting price, bidding increments, timing and event rules.
Control participation and ensure approved bidders have the information they need.
Buyers compete online in real time by submitting increasingly competitive bids.
Track bidding activity and event progress through a centralized digital environment.
Evaluate the final auction results and award according to your established business rules.
Use Cases
ProcureClix Forward Auctions provide organizations with a structured way to sell assets and unlock value through competition.
Resolve Common Reverse Auction Challenges
Turn excess, obsolete or slow-moving inventory into a competitive selling opportunity.
Machinery & Equipment
Invite qualified buyers to compete for manufacturing equipment, tools, plant assets and other capital equipment.
Fleet & Vehicles
Create competitive bidding events for commercial vehicles, fleet assets and transportation equipment.
Scrap & Recoverable Materials
Establish market-driven pricing for scrap, recyclable materials, by-products and recoverable assets.
Excess Materials & Components
Recover value from unused raw materials, spare parts, components and excess stock.
Other High-Value Assets
Create competitive events for specialized assets and other opportunities where multiple buyers can help establish market value.
Business Benefits
ProcureClix Forward Auctions provide organizations with a structured way to sell assets and unlock value through competition.
Maximize Value Recovery
Let market competition help determine what your assets are truly worth.
Expand Buyer Competition
Bring qualified buyers into a structured competitive environment.
Improve Transparency
Create a clear digital record of bidding activity and auction results.
Accelerate Asset Disposition
Replace lengthy manual negotiations with a defined, time-based competitive event.
Maintain Control
Establish auction rules, participant requirements, bid increments, timing and award criteria before the event begins.
Strengthen Auditability
Maintain a centralized record of participation, bidding activity and final outcomes.
FAQs
See how ProcureClix Forward Auctions can help your organization create transparent competition, reach qualified buyers and maximize the value of surplus assets and other selling opportunities.
Schedule a 30-Minute Live Demo