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Shaping The Future Of Word-Of-Mouth in Cyprus Revolutionise the way people buy items

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Buying & Selling Opportunities

Are Prices in Cyprus really any good for consumers? Ecommerce Startup psakseto doesn't think so. Our solution, a reverse-auction marketplace, is looking to revolutionise the way people buy items, by making suppliers bid and re-bid to win a consumer’s business. Psakseto Reverse auction marketplace connect buyers and sellers where a buyer posts the task and sellers (those who deliver the service) bid or compete for a particular query. The reverse aspect of the marketplace is where sellers outbid one another to deliver the service at a lower cost (compared to a traditional auction marketplace where buyers bid the cost up).
Market

A Buyer's Market

As a Buyer, build the specs, watch the competition and select your vendor.

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Market

Seller Opportunities

Find success in selling with thousands of opportunities.

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Dedicated Support

Dedicated Support

Real people supporting both Buyers and Sellers for a better acquisition experience.

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How Psakseto competitive bidding works

A reverse auction model reverses the role of buyer and seller with the sole purpose of driving the price down within a set time. In a normal auction you, the buyer, would compete to buy goods at the highest price. In a reverse auction the sellers compete to sell goods to you at the lowest price. Psakseto technology takes into account a number of relevant criteria to decide which bidding is the most suitable, including seller's reputation, item's quality and price.

Step By Step Process:
Competitive Bid Process

Step 1: Buyer puts up a request

In a reverse auction, the buyer puts up a request for a required good or service. Setting up an request is really easy. We have prepared a fully-fledged sample for you. Check out the description, list of items or see how to collect information from suppliers with a questionnaire.

Step 2: Sellers place bids

Sellers then place bids for the amount they are willing to be paid for the good or service along with information and a questionnaire created by our team regarding the product.

Step 3: Seller with the best offer wins

At the end of the auction the seller with the best offer wins. Compare apples-to-apples. The online bid comparison gives you detailed listing of items, unit prices and totals. A wise buyer evaluates bids by several factors and rarely decides only on price.

Latest Posts

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How a Reverse Auction Can Benefit Your Budget

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Three Reasons Why You Should Be Using Reverse Auctions

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Reverse auctions’ ascent to sourcing fame has been fairly rapid; just six years after their inception in 1995, GE claimed savings of more than $600 million — and net savings of more than 8% — by sourcing through rever...…

Why We Love Reverse Auctions (And You Should, Too!)

Why We Love Reverse Auctions (And You Should, Too!)

In this article I’ll explain what a reverse auction is, how they work and how they could be applied to your business. What is a reverse auction? A Reverse Auction is simply a type of auction where th...…

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