Abstract: The method (200) for automated bid configuration and search engine comprises the steps submitting (201) bid details in the bid calendar; processing (202) initiated by a Bid Search engine; identifying (203) the eligible bids; and notifying (205) the partners or sellers regarding the new auction. The method further includes receiving (206) the bidding details from the sellers; receiving (207) the search listing by the customer, submitting (208) the selected bids to the bidding engine by the customer, notifying (209) the sellers for the reverse auction by the bidding engine, bidding (210) by the partner or seller during the Bidding Term, determining a ‘Cool’ bid based on the internal algorithms, accepting (211) of the ‘Cool’ bid by the customer; generation (212) of a voucher for the winning bid and emailing a voucher to the customer; notifying (213) the seller or partner of the winning bid and closing (214) of the auction.

Abstract: A real time web based automated bid search software system over the internet, which enables the customers/buyers to search for live bids of goods or services with his/her/their desired budget or price and then purchase them through a fully automated auctioning and bidding process from the sellers/partners using reverse auction process. Customers need to provide the price/budget and other inputs of goods or services to be purchased in the search fields of this search system, the software system will automatically create an auction and launch on behalf of the customer and send asynchronous messages with the auction details to all registered sellers of the goods or services with the matching price/budget to participate in the auctioning/bidding process.