What does 'Forward Auction' mean?

Forward auction is a type of auction where sellers compete to sell their products or services to interested buyers. Unlike traditional auctions where buyers bid to purchase the items, in a forward auction, sellers put up their goods or services for sale and buyers bid to purchase them. This type of auction is widely used in e-commerce and online marketplaces, where sellers can reach a large number of potential buyers and get the best prices for their products or services. It is also commonly used in liquidation sales, bankruptcy