Reverse Auction Factory is a Joomla component from The Factory that allows the buyer to post the required service or product and the sellers compete to sell their item by offering the best deal. It operates like any auction component except the roles are reversed. In a regular auction the goal is to offer more and more, in reversed auctions prices go down as the suppliers race each other to the sell. 
Users can post the required service and the lowest price they are willing to pay.

As with any Joomla! component you must first create an account and log in. After logging in your Reverse Auction Menu bar should look somewhat like this:

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Before offering or requesting any services you should set up you profile so potential sellers/buyers can see who they are making business with, the more people know about you the more likely they are to trust you. Try to have more than one way of being contacted so people can get hold of you.
Go to "My User Profile" in the Reverse Auction Menu to see your profile along with other information about your activities. The user profile page shows how long you have been a member, when you where last online and if you are online at the moment and the last time you updated your profile. Hits are times other users have viewed your profile.

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Go to "Edit" with your cursor and the "Update Your Profile" bar will show, here you can set the Portrait and Contact Info.
       
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The portrait tab gives you several options like uploading an image from you PC, selecting one in the gallery or remove your current image. After performing the desired action click on update and the picture will change/upload. To discard any changes click cancel.

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The contact info tab contains all your account and contact information, Reverse Auction Factory also features Google Map coordinates. You can set your time zone, country, city and various IM IDs like Yahoo! and Skype. There is also a large text area where you can enter your Area of Expertise, it supports HTML, image from URL and even emoticons.

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Under the text field you will find the meaning of the signs next to each field on your profile page.

 In the "My User Profile" you can also see your Auctions, Bids, Ratings and other information.
The contact info tab will only show the fields with the "Field visible on your profile" icon next to them along with the Area of Expertise.

Under the "My Auctions" tab your auctions are displayed along with the Start/End date, max bid price and the value of the last bid.

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The "My Bids" tab displays the auctions you have bid on with the names of the auctioneers, Start/End date and the bid price.

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The Ratings tab shows the ratings you received on transactions, from which user and on what auction. A message from the rating user is also displayed. Ratings are useful when you are unsure about the credibility of the user.

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 "My Watchlist" shows the auctions you might have added on your watchlist, it shows the auction name, auctioneer, Start/End date and the max bid price.

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In the "My Won Bids" tab you see the auctions you won with their title, auctioneer, end date, bit price and the rating you gave it.

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The "Auction Taskpad" contains shortcuts to the fields in the Reverse Auction Menu along with some info about you, it says if you are part of the sellers or bidders group and if you are a verified user.

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