Why is the RFQ mechanism popular? FreeMarkets (freemarkets.com) is a leader in creating B2B online auctions for buyers of industrial parts, raw materials, commodities, and services around the globe. The company has created auctions for goods and services in hundreds of industrial product categories. FreeMarkets auctions more than $5 billion worth of purchase orders a year and saves buyers an estimated 2 to 25 percent of total expenses

(administrative and items).