Method and system for transmitting real-time or near real-time price and/or product information to consumers and for facilitating optional fulfillment and optional, automated, real-time or near real-time reverse auctions through wireless or wireline communications devices

• Main Authors: KARYS ALEC P, GOULD DAVID A
• Format: Patent
• Language: English
• Published: 27.07.2006
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

A method for conducting a reverse auction is disclosed. The method includes the steps of (a) receiving, from a potential purchaser using a communications device, a reverse auction request for a product and/or service that contains descriptive information about the product and/or service; (b) conducting a reverse auction by querying one or more bidder database servers using the descriptive information about the product and/or service, receiving one or more bids to sell the product and/or service from the one or more bidder database servers, and (c) transmitting the one or more bids via the communications network to the communications device. A system to implement the method is also disclosed.