AUTOMATED ELECTRONIC TRANSACTIONS

摘要

An automated auctioning method is disclosed having a multifunction (pre- auction) stage (501 ), an auction stage (502) and a fulfilment stage (503). During the multifunction stage it is possible to buy an element (507), make an offer (506) or place an auction bid (504). During the auction stage it is only possible to place an auction bid. During the auction stage, elements that represent similar examples of an item may be auctioned in which the elements are listed in terms of perceived value (1607). A standard price is modified in combination with a price modifier (1606) to produce an actual price. If a reserve has been set, the full range of items available is only displayed when an appropriate number of bids have been made that exceeds the reserve price. In the pre-auction stage it may be possible to offer discounts for those prepared to buy early. The system may also be responsive to offers and it is possible for items to be grouped together where after the group is responsive to a single offer.