Web-based reverse auctions have become extremely popular. If you are unfamiliar with the concept, reverse auction is a type of auction in which the role of the buyer and seller are reversed. The main goal is to drive purchase prices downward. To that end, cashURwheels employs reverse auction or reverse bidding.

How it works is illustrated below:

Bidding process in detail:

The advertiser will need to activate the ad for bidding. Once activated , ads accepting bids for are listed here.

The advertiser will set their price and bids can only be placed below that amount. You will simply type in the bid amount lower than the quoted amount.

The bids will decrease in minimum of a dollar amount and cents are not accepted.

If you are outbid, you will receive an email informing you so and to make another low bid.

The lowest bidder will win the auction and the campaign*.

If you have the winning bids, you will receive an email with a confirmation link at the registered email. The link will redirect you to the ad campaign which you can review once more and then accept or decline the offer.

The advertiser may chose to rescind the offer or disqualify the winner, if you do not respond within 48 hours.

*Please note: It is the your responsibility to ensure you satisfy the criteria set out by the advertiser. In case of a discrepancy or doubt, please seek clarification from the advertise beforehand.