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Negotiation Frames
Entry #0346
Why the second-lowest bid often wins a tender
The lowest bid is the one that most likely misjudged the work. Buyers who have been burned learn to read it as a warning rather than an offer.
Novice
The hidden part
#0346
A competitive tender selects the bidder who most underestimated the work. The lowest number is evidence about the bidder, not about the price.