Abstract: An electronic auction tool for generating customized quotes and real-time rankings of customized quotes for a plurality of sellers is described herein. In response to receiving a request for a product or service from a buyer that includes one or more items, one or more sellers may choose to participate in a negotiation for fulfilling the request. The system may generate default seller-specific quotes based at least in part on costs to each seller of providing the one or more items. Sellers may be given an option to accept, modify, or decline the default seller-specific quote after it is generated but before it is submitted. The seller-specific quotes are ranked based on information received up to the time of the ranking, including information obtained after commencement of the auction.

Abstract: An electronic auction tool for generating quotes and rankings associated with a seller is described herein. In response to receiving a request for a product from a buyer, one or more sellers may choose to participate in a negotiation for fulfilling the request. The system may receive a request for a product and/or service from a buyer that stipulates a number of bidding rounds during which the seller(s) may submit a limited number of quotes during a limited period of time. Additionally, a rank associated with the seller(s) may be generated based on historical transaction data. Further, a price-matching quote round may be conducted, during which the seller may have an opportunity to modify the submitted quote to match the quote with a lowest bid submitted by the other participating sellers.