AUCTION GUARANTEE - A METHOD AND SYSTEM FOR CONDUCTING AN AUCTION

摘要

A manual or computer implemented method for conducting an auction as well as a system for doing so. The method includes the steps receiving via a network interface or manually, information relating to the sellers "Sale Parameters" including the item/s a seller has for sale, information relating to a sellers Auction Guarantee Sale Price or reserve price and information relating to the sellers required profit share (share of the profit) from the sale of the said item/s. Receiving information relating to a buyer/s "Buy Parameters" including maximum Auction Guarantee Buy Price buy price or on the said item/s and information relating to the buyers required profit share. The compatibility of the seller's "Sale Parameters" with a buyer/s "Buy Parameters" is determined to either trigger the auction process if compatible or if incompatible, to offer renegotiation of the sale and buy parameters between the seller and buyer/s until compatibility or incompatibility is determined. Once the sale & buy parameters are compatible and the auction is completed the final auction bid price and the entity of the final auction bid price determines the purchaser of the said item/s and if the highest bid is above the Auction Guarantee Sale Price the seller and buyers profit share is calculated and distributed accordingly.