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

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.

What is claimed is: 
     
         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. 
   
     
     
         2 . The method of  claim 1 , wherein the buyer's request for an offer is a recurring request that is repeated at predefined times. 
     
     
         3 . The method of  claim 1 , including:
 at the computer system, prior to receiving the buyer's request for an offer:
 receiving a search request from the buyer about a product and/or service that is associated with the buyer's request for an offer; and 
 sending search results about the product and/or service for display at a computer associated with the buyer. 
   
     
     
         4 . The method of  claim 3 , including:
 after automatically generating rating information, in response to detecting a buyer-specified event, automatically initiating a software process for communicating information regarding at least some of the seller offers and at least part of the rating information to the buyer.   
     
     
         5 . The method of  claim 1 , including:
 sending to a computer, the computer associated with a representative of a respective seller that receives the request for an offer, information that enables launching a chat service between the buyer and the representative of the respective seller.   
     
     
         6 . The method of  claim 1 , including:
 sending to a computer, the computer associated with the buyer, information that enables the buyer to talk to a representative of a seller in the plurality of prospective sellers.   
     
     
         7 . The method of  claim 1 , including:
 sending to a computer associated with the buyer for display:
 information regarding at least some of the seller offers, 
 at least part of the rating information, and 
 information that enables the buyer to talk to a representative of a seller in the plurality of prospective sellers. 
   
     
     
         8 . The method of  claim 7 , wherein the information that enables the buyer to talk to the representative of the seller in the electronic auction comprises instructions for displaying a button on the computer associated with the buyer, wherein activation of the button initiates a connection between the buyer and the representative of the seller. 
     
     
         9 . The method of  claim 1 , including:
 providing the buyer's identity to at least one of the sellers; and   compensating the buyer for providing the buyer's identity.   
     
     
         10 . The method of  claim 9 , wherein the buyer's identity is provided to a seller that did not win the electronic auction. 
     
     
         11 . 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:
 receive into the computer system 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.   
     
     
         12 . The computer system of  claim 11 , wherein the buyer's request for an offer is a recurring request that is repeated at predefined times. 
     
     
         13 . The computer system of  claim 11 , wherein the computer system is configured to: prior to receiving the buyer's request for an offer:
 receive a search request from the buyer about a product and/or service that is associated with the buyer's request for an offer; and   send search results about the product and/or service for display at a computer associated with the buyer.   
     
     
         14 . The computer system of  claim 13 , wherein the computer system is configured to:
 after automatically generating rating information, in response to detecting a buyer-specified event, automatically initiate a software process for communicating information regarding at least some of the seller offers and at least part of the rating information to the buyer.   
     
     
         15 . The computer system of  claim 11 , wherein the computer system is configured to:
 send to a computer, the computer associated with a representative of a respective seller that receives the request for an offer, information that enables launching a chat service between the buyer and the representative of the respective seller.   
     
     
         16 . The computer system of  claim 11 , wherein the computer system is configured to:
 send to a computer, the computer associated with the buyer, information that enables the buyer to talk to a representative of a seller in the plurality of prospective sellers.   
     
     
         17 . The computer system of  claim 11 , wherein the computer system is configured to:
 send to a computer associated with the buyer for display:
 information regarding at least some of the seller offers, 
 at least part of the rating information, and 
 information that enables the buyer to talk to a representative of a seller in the plurality of prospective sellers. 
   
     
     
         18 . The computer system of  claim 17 , wherein the information that enables the buyer to talk to the representative of the seller in the electronic auction comprises instructions for displaying a button on the computer associated with the buyer, wherein activation of the button initiates a connection between the buyer and the representative of the seller. 
     
     
         19 . The computer system of  claim 11 , wherein the computer system is configured to:
 provide the buyer's identity to at least one of the sellers; and   compensate the buyer for providing the buyer's identity.   
     
     
         20 . The computer system of  claim 19 , wherein the buyer's identity is provided to a seller that did not win the electronic auction.