SYSTEM AND METHOD FOR PROVIDING AN ELECTRONIC BUSINESS-TO-BUSINESS EXCHANGE FOR BUYERS AND SELLERS

摘要

An on-line system for facilitating a sale of an item. The system comprises a processor accessible to at least one buyer and to a seller via the Internet. The processor is configured to maintain an addressable web site for providing an interface to the buyers and seller. The processor is further configured to post, upon receipt from the seller, data corresponding to the item and to display to the buyers the data corresponding to the item. The processor is also configured to query the seller for a preferred transaction type, such as first-come-first-served, standard auction, or highest-sealed-bid. The seller may provide a minimum acceptable bid price and a time, and the processor will automatically re-post the item (e.g.-at a lower price) if, at the selected time, no bid has been entered by a buyer which is at least equal to the seller's minimum acceptable bid price.