System and method for an automated sales system with remote negotiation and post-sale verification

• US 8,170,937 B1
• Filed: 03/08/2011
• Issued: 05/01/2012
• Est. Priority Date: 06/28/2004
• Status: Active Grant

• Current Assignee: Joshua David Nathanson
• Original Assignee: Joshua David Nathanson
• Inventors: Nathanson, Joshua David
• Primary Examiner(s): Colbert, Ella
• Assistant Examiner(s): Shaikh, Mohammad Z
• Application Number:
  US12/932,851
• Time in Patent Office: 420 Days
• Field of Search: 705 35- 42
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/0275 Auctions
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention provides a system and method to process items for sale or bid, to transmit electronic negotiations between prospective buyer and seller, and to verify the condition of the item before delivery to the buyer. The invention facilitates autonomous and remote negotiation between sellers and prospective buyers while protecting buyers from fraud and item misrepresentation. With the present invention, items can be sold individually and are not treated as standardized items that are interchangeable with similar commodity goods. The present invention also provides a waitlisting function. In addition, the functionality of traditional auction systems may be integrated with the novel features of the present invention. Furthermore, the present invention provides a system and method for conducting a reverse auction by allowing prospective buyers to list desired items.

Claims

1. A computer-implemented method for facilitating the sale and conveyance of at least one item from at least one seller to a buyer across a network, said at least one seller and said buyer being remote from one another, said method comprising:

directing, after sale of said at least one item to said buyer, the at least one seller to forward said at least one item to a third party, said at least one item being nonstandard;

verifying, by said third party, that said at least one nonstandard item matches item description data sent to said buyer by said at least one seller;

receiving payment from said buyer;

transferring, after successful verification by said third party and receipt of said payment, said at least one nonstandard item to said buyer; and

transmitting said payment to said at least one seller,

wherein the communications between said at least one seller and said involve at least one electronic device,

wherein said third party, in said verifying, employs at least one electronic device to confirm, communicate or effectuate said successful verification,

wherein said third party, in said receiving, forwards said payment to a trusted party, and

wherein the description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, date, time, history, identifier, detail, full item description, brief item description, item scan, category, price, condition, quality, characteristics, rating and combinations thereof.

2. The method according to claim 1, wherein said sale results from an auction.

3. The method according to claim 1, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

4. The method according to claim 1, further comprising:

reserving, after said step of directing, said at least one item at said third party if the sale fails and another buyer completes the sale.

5. The method according to claim 4, further comprising:

upon another buyer completing the sale and verification, said third party transfers said at least one nonstandard item to said another buyer and transmits said payment by said another buyer to said at least one seller.

6. The method according to claim 1, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one nonstandard item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

7. The method according to claim 6, further comprising:

upon transaction default, said third party performs an action selected from the group consisting of;

returning said at least one nonstandard item to said at least one seller, returning said payment to said buyer, and a combination thereof.

8. The method according to claim 1, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.

9. A system for facilitating the sale and conveyance of at least one item from at least one seller to a buyer across a network, said at least one seller and said buyer being remote from one another, said system comprising:

means for directing, after sale of said at least one item to said buyer, the at least one seller to forward said at least one item to a third party, said at least one item being nonstandard;

means for verifying, by said third party, that said at least one nonstandard item matches item description data sent to said buyer by said at least one seller;

means for receiving payment from said buyer;

means for transferring, after successful verification by said third party and receipt of said payment, said at least one nonstandard item to said buyer; and

means for transmitting said payment to said at least one seller,

wherein the communications between said at least one seller and said at least one bidder involve at least one electronic device,

wherein said buyer, in said receiving means, forwards said payment to a trusted party, and

wherein said description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, data, time, history, identifier, detail, full item description, brief item description, item scan, type, category, price, condition, quality, characteristics, rating and combinations thereof.

10. The system according to claim 9, wherein said sale results from an auction.

11. The method according to claim 9, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

12. The system according to claim 9, further comprising:

means for reserving, after said step of directing, said at least one item at said third party if the sale fails and another buyer completes the sale.

13. The system according to claim 12, further comprising:

upon another buyer completing the sale and verification, said third party transfers said at least one nonstandard item to said another buyer and transmits said payment by said another buyer to said at least one seller.

14. The system according to claim 9, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one nonstandard item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

15. The system according to claim 14, further comprising:

upon transaction default, said third party performs an action selected from the group consisting of;

returning said at least one nonstandard item to said at least one seller, returning said payment to said buyer, and a combination thereof.

16. The system according to claim 9, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.

17. A data storage medium with computer-executable instructions thereon for facilitating the sale and conveyance of at least one item from at least one seller to a buyer across a network, said at least one seller and said buyer being remote from one another, said data storage medium comprising:

instructions for directing, after sale of said at least one item to said buyer, the at least one seller to forward said at least one item to a third party, said at least one item being nonstandard;

instructions for verifying, by said third party, that said at least one nonstandard item matches item description data sent to said buyer by said at least one seller;

instructions for receiving payment from said buyer;

instructions for transferring, after successful verification by said third party and receipt of said payment, said at least one nonstandard item to said buyer; and

instructions for transmitting said payment to said at least one seller,

wherein said instructions for receiving include information on the buyer forwarding said payment to a trusted party, and

wherein said description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, date, time, history, identifier, detail, full item description, brief item description, item scan, type, category, price, condition, quality, characteristics, rating and combinations thereof.

18. The data storage medium according to claim 17, wherein said sale results from an auction.

19. The method according to claim 17, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

20. The system according to claim 17, further comprising:

means for reserving, after said step of directing, said at least one item at said third party if the sale fails and another buyer completes the sale.

21. The data storage medium according to claim 20, further comprising:

upon another buyer completing the sale and verification, said third party transfers said at least one nonstandard item to said another buyer and transmits said payment by said another buyer to said at least one seller.

22. The data storage medium according to claim 17, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one nonstandard item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

23. The data storage medium according to claim 22, further comprising:

upon transaction default, said third party performs an action selected from the group consisting of;

returning said at least one nonstandard item to said at least one seller, returning said payment to said buyer, and a combination thereof.

24. The data storage medium according to claim 17, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.

25. A computer-implemented method for facilitating the sale and conveyance of at least one item from a seller to a buyer across a network, said seller and said buyer being remote from one another, said method comprising:

directing, after sale of said at least one item to said buyer, the seller to forward said at least one item to a third party verifier;

verifying, by said third party verifier, that said at least one item matches item description data sent to said buyer by said seller;

receiving payment from said buyer;

transferring, after successful verification by said third party verifier and receipt of said payment, said at least one item to said buyer; and

transmitting said payment to said seller,

wherein the communications between said seller and said buyer involve at least one electronic device,

wherein said third party, in said verifying, employs at least one electronic device to confirm, communicate or effectuate said successful verification,

wherein said third party, in said receiving, forwards said payment to a trusted party, and

wherein the description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, date, time, history, identifier, detail, full item description, brief item description, item scan, category, price, condition, quality, characteristics, rating and combinations thereof.

26. The method according to claim 25, wherein said sale results from an auction.

27. The method according to claim 25, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

28. The method according to claim 25, further comprising:

reserving, after said step of directing, said at least one item at said third party verifier if the sale fails and another buyer completes the sale.

29. The method according to claim 28, further comprising:

upon another buyer completing the sale and verification, said third party verifier transfers said at least one item to said another buyer and transmits said payment by said another buyer to said seller.

30. The method according to claim 25, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

31. The method according to claim 30, further comprising:

upon transaction default, said third party performs an action selected from the group consisting of;

returning said at least one item to said seller, returning said payment to said buyer, and a combination thereof.

32. The method according to claim 25, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.

33. A system for facilitating the sale and conveyance of at least one item from a seller to a buyer across a network, said seller and said buyer being remote from one another, said system comprising:

means for directing, after sale of said at least one item to said buyer, the seller to forward said at least one item to a third party verifier;

means for verifying, by said third party verifier, that said at least one item matches item description data sent to said buyer by said seller;

means for receiving payment from said buyer;

means for transferring, after successful verification by said third party verifier and receipt of said payment, said at least one item to said buyer; and

means for transmitting said payment to said seller,

wherein the communications between said seller and said buyer involve at least one electronic device,

wherein said buyer, in said receiving means, forwards said payment to a trusted party, and

wherein said description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, data, time, history, identifier, detail, full item description, brief item description, item scan, type, category, price, condition, quality, characteristics, rating and combinations thereof.

34. The system according to claim 33, wherein said sale results from an auction.

35. The system according to claim 33, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

36. The system according to claim 33, further comprising:

means for reserving, after said step of directing, said at least one item at said third party verifier if the sale fails and another buyer completes the sale.

37. The system according to claim 36, further comprising:

upon another buyer completing the sale and verification, said third party verifier transfers said at least one item to said another buyer and transmits said payment by said another buyer to said seller.

38. The system according to claim 33, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

39. The system according to claim 38, further comprising:

upon transaction default, said third party verifier performs an action selected from the group consisting of;

returning said at least one item to said seller, returning said payment to said buyer, and a combination thereof.

40. The system according to claim 33, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.

41. A data storage medium with computer-executable instructions thereon for facilitating the sale and conveyance of at least one item from a seller to a buyer across a network, said seller and said buyer being remote from one another, aid data storage medium comprising:

instructions for directing, after sale of said at least one item to said buyer, the seller to forward said at least one item to a third party verifier;

instructions for verifying, by said third party verifier, that said at least one item matches item description data sent to said buyer by said seller;

instructions for receiving payment from said buyer;

instructions for transferring, after successful verification by said third party verifier and receipt of said payment, said at least one item to said buyer; and

instructions for transmitting said payment to said seller,

wherein said instructions for receiving include information on the buyer forwarding said payment to a trusted party, and

wherein said description data about said at least one nonstandard item includes data selected from the group consisting of;

title, number, date, time, history, identifier, detail, full item description, brief item description, item scan, type, category, price, condition, quality, characteristics, rating and combinations thereof.

42. The data storage medium according to claim 41, wherein said sale results from an auction.

43. The data storage medium according to claim 41, wherein said trusted party is selected from the group consisting of the third party, a bank and a negotiation administrator.

44. The data storage medium according to claim 41, further comprising:

means for reserving, after said step of directing, said at least one item at said third party verifier if the sale fails and another buyer completes the sale.

45. The data storage medium according to claim 44, further comprising:

upon another buyer completing the sale and verification, said third party verifier transfers said at least one item to said another buyer and transmits said payment by said another buyer to said seller.

46. The data storage medium according to claim 41, wherein transaction default is selected from the group consisting of:

verification mismatch of said at least one item with seller description data, buyer fails to forward payment, buyer fails to timely forward payment, and combinations thereof.

47. The data storage medium according to claim 46, further comprising:

upon transaction default, said third party verifier performs an action selected from the group consisting of;

returning said at least one item to said seller, returning said payment to said buyer, and a combination thereof.

48. The data storage medium according to claim 41, wherein performance of said payment is selected from the group consisting of bank check, personal check, debit card, wire transfer, electronic funds transfer, and combinations thereof.