System and method for conducting a buy-side auction

摘要

A system, method, apparatus, and computer program code for conducting a buy-side auction includes defining a plurality of transformation functions available for use in the auction. An offer to sell the item requested in the auction is received from a seller, and at least one transformation function is identified, based at least in part on the offer or the seller. The selected transformation function is applied to the offer to produce a transformed offer, and a state of the auction is updated based on the transformed offer.