Patent ID: 8738463

Claim:
A computer-implemented method of facilitating an electronic auction between a prospective buyer and a plurality of prospective sellers, comprising: at a computer system comprising at least one server with one or more processors and memory: receiving into the computer system a buyer's request for an offer; communicating the request for an offer to at least two of the sellers; receiving offers, including terms of sale in response to the request for an offer, from at least two of the sellers; automatically generating rating information about seller offers based on a first plurality of predetermined criteria specified by the buyer, wherein the first plurality of predetermined criteria include at least one criterion other than price; communicating information regarding at least some of the seller offers to at least one other seller; receiving an adjusted offer from at least one of the sellers during a first specified auction period; after receiving the adjusted offer from at least one of the sellers during the first specified auction period; receiving, for the buyer's request for an offer, a second plurality of predetermined criteria specified by the buyer for automatically generating rating information about seller offers; receiving an adjusted offer from at least one of the sellers during a second specified auction period; automatically generating rating information about seller offers in the second specified auction period based on the second plurality of predetermined criteria specified by the buyer, wherein the second plurality of predetermined criteria include at least one criterion other than price and are distinct from the first plurality of predetermined criteria; and communicating information regarding at least some of the seller offers in the second specified auction period and at least part of the rating information from the second specified auction period to the buyer.