METHOD, SYSTEM AND APPARATUS FOR AUTOMATIC REAL-TIME ITERATIVE COMMERCIAL TRANSACTIONS OVER THE INTERNET

摘要

A method of communications network shopping by buyers of products and ser vices for purchasing such from sellers in which buyers request an automatic reverse auctioneer or auction controller to initiate a reverse auction in re al time amongst willing sellers and to solicit their automatic real-time ite rative bidding price quotations for such products and services to be returne d automatically over the network back to the controller under the iterative processing guidance of the controller to assure a best bid price quotation f or the buyer; and automatically effecting buyer notification or purchase at such best price, all while the buyer may remain on-line, and without any man ual intervention.