What are forward e-Auctions

Forward e-Auctions are the most common type of e-Auctions. A typical Forward e-Auction consists of several potential buyers bidding for goods and services provided by a single seller. These buyers and sellers can be small or large organisations or even individuals. In a forward e-Auction, the buyers bid on the seller's item and the price of the item generally increases by fixed increments during the auction.
  • The seller posts his item on the auction portal
  • Buyers register and compete in the bidding process by surpassing each other's bids.
  • The buyer who makes the highest bid during the auction is the one who wins.
Source:  C1India.com

Forward e-Auctions mostly are being used by different organisations to sell the scrap materials.