Abstract: A network-based reverse auction system value discovery system that involves at least four major customers: consumers, and the three sell-side customers bidder/sellers, product manufacturers, and advertisers who are not also product manufacturers. Initially, a shopping list is constructed containing e.g., widely available goods (WAGs). The shopping list is the base of the value discovery network and adds significant value for each of the four key customers. A sell-side icon may be used to add items to the shopping list.

Abstract: Embodiments of the present invention describe a network-based reverse auction system value discovery system including at least four major customers: consumers, and the three sell-side customers bidder/sellers, product manufacturers, and advertisers who are not also product manufacturers. Initially, a shopping list is constructed containing e.g., widely available goods (WAGs). The shopping list is the base of the value discovery network and ads significant value for each of the four key customers. For consumers, the value discovery system is an easy and convenient way to obtain and feel assured that they have obtained the best deal possible, consistent with their own definition of value. For bidder/sellers, the value discovery system offers a chance to sell products effectively, e.g., in a manner that maximizes profits while building consumer relationships one by one.