Dubli Singapore A Scam?

Dubli Singapore is mainly powered by a reverse auction are in fact very comparable to that of a traditional auction by the fact that it also involves a “Seller” which for the purpose of this illustration will be dubli.com

DubLi Singapore will source for a high quality product and put on sale on their online auction website attracting potential buyers who compete with each other for the purchase of a particular item, just like you’d see in a traditional auction.

However, all similarities end here because in a reverse auction the price of an item is genuinely driven down with each bid set by potential buyers until a single lowest buyer is identified. At this time the auction concludes and the item is awarded to the “Lowest Bidder.”

In a traditional auction, the price for an item is continually driven up from the bids placed by potential buyers, where as in a reverse auction like Dubli Singapore, the price for an item is continually driven down from the bids placed by potential buyers.

The origins of the ‘reverse auction’ date back to the mid 1990′s. The concept was initially defined as a way for companies to bid on available government and private sector contracts.

Dubli Singapore reverse auction would take place on the Net and potential buyers were wanted to openly compete and bid amongst other companies vying for the available contracts; which would of course benefit the receiver by driving down the costs of the project.

When bidders reached a threshold and could go no lower for a particular contract, the auction would conclude and the available contracts would be awarded to the companies with the lowest bids.

Sound familiar? It should, because bidding on contracts is sure enough not something new by any stretch of the imagination, but it certainly was on the Internet! Prior to the creation of the reverse auction, competing for contracts was more localized and bids were oftentimes delivered through the mail as potential buyers had to patiently wait for the outcome of their bid.

However, with the coming of the Internet, suddenly a paradigm shift transformed in the way companies and governments could post important projects and accept bidding from potential buyers and contractors from around the world. By the same token it certainly opened the door for contractors and buyers alike who could now bid on far more projects outside their immediate marketing area and be informed of the status of those bids in real time!