Method, System and Business Model for a Buyer's Auction with Near Perfect Information Using the Internet
First Claim
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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Accused Products
Abstract
A methodology, system and business model are disclosed for facilitating a fully automated buyer'"'"'s auction in which the major types of transaction costs are significantly reduced by providing the buyer and the sellers with near-perfect information about one another, including information about buyer preferences and competing sellers'"'"' offers. The system implements a buyer'"'"'s auction with multidimensional bidding that minimizes market intelligence, search, bargaining and transaction execution costs and thus creates more competitive, frictionless markets. Buyers and sellers can efficiently conduct the buyer'"'"'s auction within a unified environment, thereby minimizing buyer integration costs as well. The buyer'"'"'s auction generates commercially marketable proprietary information and a revenue stream for the auctioneer providing such a service.
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Citations
16 Claims
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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:
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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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A computer system comprising at least one server with one or more processors and memory for facilitating an electronic auction between a prospective buyer and a plurality of prospective sellers, wherein the computer system is configured to:
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receive a buyer'"'"'s request for an offer; communicate the request for an offer to at least two of the sellers; receive offers, including terms of sale in response to the request for an offer, from at least two of the sellers; automatically generate 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; communicate information regarding at least some of the seller offers to at least one other seller; and receive an adjusted offer from at least one of the sellers during a specified auction period. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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Specification