Patent ID: 8583538

Claim:
A method comprising: receiving, by at least one processor, from a workstation in use by a requesting participant a request for quote for a bid on an item, wherein the at least one processor and the workstation are communicatively coupled via a communications network; receiving, by the at least one processor, from a workstation in use by a responding participant an offer to guarantee that the item will be purchased from the requesting participant at a price that will be either greater than or equal to a specified first price, wherein the the offer to guarantee is in response to the request for quote, and wherein the server and the workstation in use by the responding participant are communicatively coupled via the communications network; receiving, by the at least one processor, from the workstation in use by the requesting participant an acceptance of the responding participant's offer to guarantee that the item will be purchased from the requesting participant at a price that will be either greater than or equal to the first price; in response to the requesting participant's acceptance of the responding participant's offer to guarantee that the item will be purchased from the requesting participant at a price that will be either greater than or equal to the first price, posting in an electronic marketplace, by the at least one processor, an offer to sell the item at a second price that is higher than the first price, wherein the offer to sell is posted in the electronic marketplace; determining, by the at least one processor, that the posted offer is accepted in the electronic marketplace by a third-party at the second price; executing, by the at least one processor, in response to determining that the posted offer is accepted in the electronic marketplace by the third-party at the second price, at least one transaction wherein the requesting participant sells the item at a price higher than the first price and the third party purchases the item at the second price; and providing, by the at least one processor, in response to determining that the posted offer is accepted in the electronic marketplace by the third-party at the second price, a payment to the responding participant.