Procurement has been the latest process to get the “e” treatment. It is also the process of choice now for organisations seeking increased efficiencies and reduced bottom lines. E-procurement is one of the shining lights in the evolving e-business story and this paper will look at a case study of an online reverse auction where a major Australian manufacturer sources logistics services for most of its commodities. The paper presents the case of the reverse auction from the viewpoint of one supplier and looks to present the insight of a losing bidder. Small and large businesses, global organisations, Australian and multi-national business, greed, fear and avarice are all themes explored in the paper giving the “real business” perspective to a topic that often is simplified into “techno-business” jargon.