2. Research reverse travel auctions' history Reverse auctions is when the role of the buyers and the sellers are reversed. The history of reverse auctions gained popularity in the late 1990s. It is the moment of the emergence of Internet-based online auction tools. Pioneer of online reverse auctions, FreeMarkets, was founded in 1995 by former McKinsey.
3. Profile how they work, in general -The buyers propose the price is ready to pay. -The sellers just say to him if they agree or not.