PROCUREMENT

GSA challenges FedBid's auction business

Now that the GSA has introduced ReverseAuctions, a program that allows agencies to make purchases via online auction, FedBid Inc. has some real competition, according to FedBiz Daily.

The GSA’s ReverseAuctions is similar to eBay, having a set amount of time that companies can put in their bids; however, unlike eBay, the bids are for lowest price, and not the other way around.

FedBid had been dominant in the market, facilitating more than 20,000 transactions worth more than $1.4 billion in 2011, FedBiz Daily reported, but now it is competing directly with the GSA’s platform.

FedBid’s advantage might be with how it doesn’t restrict which goods and services can be procured; the GSA, on the other hand, keeps it to commodities, such as office supplies and equipment.

Reader Comments

Fri, Jul 12, 2013 SPMayor Summit Point, WV

I am glad to see this happen. Competition for the offered services will help to fashion these services in the best interest of the Government. Some percentage of industry have been uncomfortable with the FedBid offering. Where industry concerns may not have been adequately addressed previously the existence of competition will likely encourage improvements and clarity to the FedBid process and rates. At the same time, GSA, having chosen to offer similar services, will need to be attentive to their offering if they to become the preferred provider of reverse auction services.

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