At the last President's Club meeting a client mentioned that one of his clients asked him to participate in a Reverse Auction. I listened in disbelief as he explained. His client created a bid opportunity, on line, the he was to bid on. The only catch, instead of the prices going up like in normal auctions, they needed to go down. The clients was going to pick the lowest bid. What did he do? Being the professional that he is, he sat down and figured out what the job would cost and came up with his bid, he posted it and turned off the computer. Seconds after the computer was off, his client called to ask if everything was okay and why was he not there (why wasn't he playing was what they really wanted to know.) He told them that he posted his price and if he won great, and if not, it wasn't meant to be. After that experience they have created a company policy not to participate in these types of practices.
You really have to have an abundance mentally and the ability to separate yourself from the situation to keep you head on straight.