Reverse Auctions less popular

      Reverse auctions have become less popular with federal agencies, according to a recent Government Accountability Office report.

      The number of reverse actions fell to 19,000 in fiscal 2017, down from 34,000 in fiscal 2013, the GAO said. The value of those procurements fell to $1.5 billion, from $1.9 billion.

      The GAO said 75% of the reverse auctions reviewed in fiscal 2016 had enhanced competition with at least one bidder submitting more than one bid during the auction. However, 20% had only one bidder.

      Some agencies were paying relatively high fees for the reverse auctions, GAO said.

More information: Read more of the GAO report at: https://www.gao.gov/assets/700/693190.pdf

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