Reverse Auction at Kuxol

Bidders

Select Ad type WANTED for your ad when you want the sellers to compete for your business through REVERSE AUCTION. In a reverse auction, the buyer puts up a request for a required good or service with detail description, specification or RFQ (Request For Quotation). Sellers then place bids for the amount they are willing to be paid for the good or service, and at the end of the auction the seller with the lowest amount generally wins.


Reverse auctions are used to fill both large and small value contracts for both public sector and private commercial organizations. In addition to items traditionally thought of as commodities, reverse auctions are also used to source buyer-designed goods and services. Nevertheless, at Kuxol, private buyers and home-based businesses can also take advantage of reverse auction to acquire all kinds of goods and services at the lowest possible cost.


At Kuxol, every account and profile is associated with a unique email address. All active ads of a registered user can be found at the profile page. In other words, the profile page effectively becomes a storefront open publicly to millions of potential buyers and sellers. In fact, any organization and private individual are themselves virtually playing the role of buyer and seller at the same time. Therefore, one may have all Wanted and regular ads placed under one single profile or have them placed under separate profiles (Purchase department on Wanted ads and Sales department on regular ads).


Reverse Auction can only be used by registered users.

How it works

PostWantedAd

Post Your Ad

  • Post your items or services under Type "Wanted" which is also a searchable field.

 

  • Describe the required goods or services (or Request For Quotation) as detail as possible. Specify “Sealed Bid by Kuxol Mail” in case you don’t want open bids.

 

  • Set the maximum price you may accept or leave it 0 as a reference for the sellers.

 

  • Set number of days the auction to stay active.

 

  • A "Wanted" label will be visible on your listing in the search result.

 

  • A "Wanted" label will be visible on your ad detail view page.

 

 

Make Wanted Bid

  • Enter Bid Amount.

 

  • Enter any remarks you want the Wanted ad owner to know about.

 

  • Both the bidder and Wanted ad owner will be notified about the bid through email instantly.

 

View Wanted Bid

  • Upon clicking the "View Wanted Bid" button, all bids that are related to the ad are displayed. You will know what others are offering and the current bid status.

 

My Wanted

"My Wanted" (under My Kuxol) is composed of two sections - "Bids I Received" and "Bids I Made".

  • "Withdrawn by Bidder" under "Bids I Received" only displays bids that the bidder have decided to withdraw. You are not allowed to change the bid status.

 

  • "All other status" under "Bids I Received" displays all non-withdrawn bids you have received. You can change the bid status here.

 

  • "Accepted / Declined by Wanted Owner" under "Bids I Made" displays all bids that you have made which have been accepted or declined. You are not allowed to change the bid status.

 

  • "All other status" under "Bids I Made" displays other bids you have made. You can change the bid status here.

 

  • Click on “EDIT” to view the bid amount, write Ad Owner’s Remarks and/or change bid status. This is where counter offers are made or accepted.

 

Any of the four selections above will display a list of bids. Here is an example.

  • Click on status to review the timeline of the bid. Any change in bid status, bid amount, Bidder's Remarks as well as Ad Owner's Remarks are presented.

 

  • Ad Owner can review bids and make decision whether to accept or to decline them. He / She has the option to deal with multiple bids at the same time. You will be notified about the decision through email instantly.

 

  • Bidder can review bid status. One may "withdraw" a bid whenever the Ad Owner hasn't made decision to accept or decline the bid.

 

  • Negotiation and counter offers can be carried out through Kuxol Mail and Kuxol Connect. They allow you NOT to have to give away private contact information while communicating and discussing for a deal.

 

  • Kuxol Connect offers additional benefits for both parties to know each other in real time before any decision is made. This is good for saving time and adding personal safety protection.

 

  • All "old" bids that you are part of are available for you to re-visit.

 

  • Both the Bidder and the Ad Owner will be notified by email about any change made to the bid. 

FAQ

Do I need to register to post Wanted ad?

  • It’s not required. You can post an ad freely as guest user. However, it is important to know that registered users gain the following additional benefits: make bids, receive bids and manage bids as well as the use of Kuxol Mail and Kuxol Connect as tools of communication.
     

How to post Wanted ad?

  • You may follow these simple guidelines to post an ad in Kuxol. To make your ad eligible for swapping, you need to select “Wanted” from the “Type” list for your ad.
  • Describe the required goods or services (or Request For Quotation) as detail as possible.
  • Set the number of day the ad to be active.
  • Set a price or leave it 0 as a reference for sellers
     

Do you send me an email notice once I submit the ad?

  • Yes, we’ll send one to the advertiser whenever a new ad is posted.
     

How to edit or delete my Wanted ad?

  • If you post the ad as guest user, you will find the edit and delete ad links from your ad posting email notice.
  • As registered user, you can freely "edit" or "delete" your ad from "Manage My Ad" in the User Menu (My Kuxol) section.
     

What kind of items I can’t post on Kuxol?

  • Please check out our prohibited items for listing as reference and guideline.
  • If you happen to spot any doubtful ad, please feel free to report abuse.
     

What should I do if my bid is rejected?

  • You may try to adjust the bid amount and add more “useful stuffs” to your bid package through Bidder’s Remarks.
  • Or just let it go, and you may get a better sales opportunity next time.
     

Can I change my mind if my bid has been accepted?

  • It is recommended that you communicate with the Ad Owner to resolve it in a friendly way.
     

After I have accepted a bid, can I still change my mind?

  • It is recommended that you communicate with the Bidder to resolve it in a friendly way.
     

Can I withdraw my bid during the pending/opened phase?

  • Yes, absolutely.