ESTABLISHING CONSUMER DRIVEN BUYING GROUPS SOLICITING SUPPLIERS USING ONLINE RESERVE AUCTIONS

摘要

A method of conducting a consumer driven online mass purchase of goods or services or both goods and services via reverse auction. At least one consumer posts an online announcement of the intended purchase and enlists other consumers using email lists, social networks, and other lines of communications. Deposits may be collected from participants. A predetermined number of participants may be established. A date may be established for responses by potential commercial providers of the offerings. At the established date, responses in the form of bids of a reverse auction are considered. The combined orders of the participants are awarded to the low bidder.