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Method, System and Business Model for a Buyer's Auction with Near Perfect Information Using the Internet

  • US 20110238521A1
  • Filed: 06/06/2011
  • Published: 09/29/2011
  • Est. Priority Date: 07/09/1999
  • Status: Active Grant
First Claim
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1. A computer-implemented method of facilitating an electronic auction between a prospective buyer and a plurality of prospective sellers, comprising:

  • at a computer system comprising at least one server with one or more processors and memory;

    receiving into the computer system a buyer'"'"'s request for an offer;

    communicating the request for an offer to at least two of the sellers;

    receiving offers, including terms of sale in response to the request for an offer, from at least two of the sellers;

    automatically generating rating information about seller offers based on a plurality of predetermined criteria, wherein the plurality of predetermined criteria include at least one criterion other than price;

    communicating information regarding at least some of the seller offers to at least one other seller; and

    receiving an adjusted offer from at least one of the sellers during a specified auction period.

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