Abstract: A system and method is disclosed that provides an exchange marketplace for the use of vacation properties and other assets such as airplanes, yachts, etc. An inventory of items available for purchase or auction, each representing a use of an asset, is maintained. Auction bids or offers to purchase items in the inventory may be made either by offering to pay cash or by offering in trade a new item also representing use of an asset. An equivalent cash value is determined for new items offered in trade, and the transaction allowed to proceed if the determined value of the new item offered equals or exceeds the price of current bid of the item sought. The system thus allows for maximum flexibility in renting and trading the use of vacation properties and other assets.