Reverse auction system and method
First Claim
Patent Images
1. A system for automating the reverse auction negotiation process between a consumer and a plurality of automobile dealers in order to provide the consumer with the lowest price for an automobile of the consumer'"'"'s specification, the system comprising:
- a communications interface;
a controller computer linked with the communications interface, the controller computer comprising;
a first logic unit to provide a list of available automobiles and specifications options to the consumer from a vehicle database;
a second logic unit in response to the consumer selection the desired automobile and related specification features, to provide the consumer with a contract for the reverse auction services and wherein the consumer accepts the contract terms and provides payment information to the system;
a third logic unit to receive consumer identification and payment information, set up an auction account number for the consumer transaction, add the consumer to the existing member database, identify the nearest dealers from a system dealer database, establish the auction term, and communicate a receipt page to the consumer;
a fourth logic unit to invite identified dealers to submit bids in response to the consumer'"'"'s selection of automobile and specified feature, allow real time access to the bidding history for the particular reverse auction by participating dealers and the consumer, and to allow non-invited dealers to request invitations to bid subject to the consumer'"'"'s authorization; and
a fifth logic unit ending the auction, comparing the bids received, notifying the lowest dealer bid and the consumer of the auction results tailored to each according to the consumers'"'"' contract.
0 Assignments
0 Petitions
Accused Products
Abstract
A reverse auction method and system for providing a consumer seeking a specified automobile available within a vehicle database with a plurality of dealer bids to sell the selected automobile from which the consumer may select the desired dealer and bid to consummate the transaction.
61 Citations
24 Claims
-
1. A system for automating the reverse auction negotiation process between a consumer and a plurality of automobile dealers in order to provide the consumer with the lowest price for an automobile of the consumer'"'"'s specification, the system comprising:
-
a communications interface;
a controller computer linked with the communications interface, the controller computer comprising;
a first logic unit to provide a list of available automobiles and specifications options to the consumer from a vehicle database;
a second logic unit in response to the consumer selection the desired automobile and related specification features, to provide the consumer with a contract for the reverse auction services and wherein the consumer accepts the contract terms and provides payment information to the system;
a third logic unit to receive consumer identification and payment information, set up an auction account number for the consumer transaction, add the consumer to the existing member database, identify the nearest dealers from a system dealer database, establish the auction term, and communicate a receipt page to the consumer;
a fourth logic unit to invite identified dealers to submit bids in response to the consumer'"'"'s selection of automobile and specified feature, allow real time access to the bidding history for the particular reverse auction by participating dealers and the consumer, and to allow non-invited dealers to request invitations to bid subject to the consumer'"'"'s authorization; and
a fifth logic unit ending the auction, comparing the bids received, notifying the lowest dealer bid and the consumer of the auction results tailored to each according to the consumers'"'"' contract. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
-
-
10. A method of automating the reverse auction negotiation service between a consumer and a plurality of automobile dealers in order to provide the consumer with the lowest price for a new or used automobile of the consumer'"'"'s specification, the method comprising the computer implemented steps of:
-
a) the consumer specifying a desired make, model, and related specifications of desired automobile from an automobile data base, confirming the service contract, and providing the consumer'"'"'s zip code location;
b) inviting new automobile dealers from a dealer database matched to the consumer'"'"'s desired make, model, and related specifications of desired automobile and the consumer'"'"'s zip code location to participate in submitting new automobile price quotes in response thereto;
c) creating a reverse auction database for the particular consumer automobile selection including an auction term;
d) notifying the lowest bidder at the end of the auction term; and
e) providing the consumer with the list of auction bids at the end of the auction term. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
-
Specification