Patent ID: 7729950

Claim:
A method for conducting, managing and executing over a computer communication network, an auction of at least one claim or asset to a plurality of buyers having expressed interest in claims or assets, said method comprising the steps of: placing an indication of the availability of said at least one claim or asset at a web server on said computer network wherein said indication is accessible by each of said plurality of potential buyers over said network; notifying at least one of said buyers of the availability of said at least one claim or asset; determining a market value of said at least one claim or asset based on historical data of market value of same or similar claims or assets; dynamically adjusting said market value based on one or more factors; notifying the at least one of said buyers of the determined market value and the adjusted market value; determining that the available volume of assets or claims is greater than a need of the at least one of said buyers; determining whether the available volume of assets or claims can be divided into smaller volumes; responsive to determining that the available volume of assets or claims cannot be divided into smaller volumes, initiating a notification to the seller; receiving bids from at least one of said buyers over said network; notifying one of said at least one buyers of acceptance of a corresponding bid when said bid satisfies predetermined criteria; and recording said accepted bid.