Systems and methods for private auction reverse auction

摘要

A system and method for a private auction online reverse auction via a remote computer device in accordance with a predetermined set of rules, the reverse auction comprising a random identification number assigned to a private auction, auction bidders. This system allows the bidders to choose one of two different bidding categories. Category 1 must pay the winning bid. Category 2 requires a commitment to purchase a price-protection policy, and the price minus the price-protection fee from the sum of the amount equal to a predetermined percentage of the difference between the lowest or winning bid amount and the lowest bid amount and the lowest bid amount. You can recalculate the final winning amount based on the formula. The system may also allocate at least a portion of the price-protection fee.