INVERSE MULTIPLE AUCTION
First Claim
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1. A method of auctioning an item comprising:
- a) receiving at least one bid to buy the item from at least one customer;
b) communicating said at least one bid to a plurality of sellers;
c) collecting at least one offer from at least one of said plurality of sellers, wherein said at least one offer is in response to said at least one bid, andd) relaying said at least one offer to said at least one customer.
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Abstract
A method and system for encouraging competition in an on-line auction includes receiving at least one bid to buy an item and communicating the bids or a summary thereof to a plurality of sellers. A seller may respond to the bids by accepting a bid or making an offer. Information on the status of the bidding and offers may be made available to one or more participants to encourage an open market and informed decision making by all participants.
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Citations
25 Claims
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1. A method of auctioning an item comprising:
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a) receiving at least one bid to buy the item from at least one customer; b) communicating said at least one bid to a plurality of sellers; c) collecting at least one offer from at least one of said plurality of sellers, wherein said at least one offer is in response to said at least one bid, and d) relaying said at least one offer to said at least one customer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A system for auctioning an item comprising:
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a) a communication medium configured for communicating at least one bid from at least one customer to a plurality of sellers, and b) a memory for storing at least one offer from at least one of said plurality of sellers, wherein said at least one offer is in response to said at least one bid. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25)
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Specification