Patent ID: 8359230
Filing Date: 2013-01-22
Classification: G06Q

Abstract:
1. A computer-implemented method of conducting a sale on a sale site on the Internet comprising the sale-site computer-implemented steps of: a) receiving information regarding an item for sale on the sale site from a potential seller and posting the received information on the sale site; b) receiving a maximum buyout price and a minimum buyout price for the item for sale on the sale site from the potential seller; c) listing a starting buyout price amount for the item for sale on the sale site, the starting buyout price comprising the maximum buyout price; d) starting the sale on the sale site; e) the sale site periodically reducing the buyout price during the sale on the sale site between the maximum buyout price and the minimum buyout price for the item for sale on the sale site until a first offer from a first offeror on the item for sale is received on the sale site; f) in response to the first offer received on the sale site, the sale site automatically stopping the sale on the sale site and accepting the first offer on the item for sale on the sale site, regardless of whether the offer is the maximum buyout price, the minimum buyout price, or a buyout price between the maximum buyout price and the minimum buyout price; and g) informing the first offeror that the first offeror has won the sale on the sale site.