Abstract: A system, apparatus, article of manufacture and method for facilitating an automatic negotiation between a consumer and a vendor for purchase of an item is described. An electronic negotiation unit receives an offer to purchase the item, and automatically processes the offer. The processing is performed by a computer and includes accepting the offer if it is greater than a bottom line price for the item. The offer is rejected if the offer is below a negotiation range which extends below the bottom line price. If the offer is within the negotiation range for the item, the electronic negotiation unit automatically generates a counter offer price that is greater than or equal to the bottom line price. If the counter offer is within a final offer range the counter offer is designated as a final counter offer.
Type:
Grant
Filed:
March 10, 2008
Date of Patent:
April 16, 2013
Assignee:
Auto Bid Systems, Inc.
Inventors:
Mike Cotton, Todd Gagorik, Glen Gulyas, Mike Rowen, Chad Wach