Online Product Exchange System and Methods

Abstract

An exchange system for facilitating the purchase of new cars is described. The system is coupled, in one embodiment, to a communications link. Potential car purchasers and sellers may access the exchange system via the network, and submit offers and/or pricing requests to such system. In response to the requests, the system processor retrieves the stored data from the respective databases, and causes such data to be transmitted to the local site for display. The exchange systems also executes certain functions in response to commands and data transmitted from buyer sites, dealer sites and institution sites.

1 - 26 . (canceled)  
     
     
         27 . A method for operating an electronic product exchange comprising: 
 (a) accepting, and storing in a single, first database, from each of a multitude of potential sellers, through a generally available wide area network, pricing data and product configuration data for a multitude of different products for sale by the multitude of potential sellers;    (b) accepting through the generally available wide area network, from personal computers of each of a multitude of potential buyers, requests containing select product configuration data;    (c) responsive to each of said requests, searching the first computer database for those products of the multitude that match the select product configuration data of the request and automatically transferring the pricing data and product configuration data of the matching products through the wide area network to the personal computer of the potential buyer who made the request; and    (d) accepting purchase orders over the wide area network from the personal computer of a potential buyer, and responsive thereto, automatically recording buyer identification data, seller identification data, price, and product configuration data in a second computer database.    
     
     
         28 . The method of  claim 27  wherein part (b) comprises searching a computer database containing the pricing data and product configuration data.  
     
     
         29 . The method of  claim 28  wherein the computer database stores the data in price-ordered categories.  
     
     
         30 . The method of  claim 27  wherein accepting the pricing data and product configuration data comprises allowing the potential sellers to upload the data through the network to the computer database at will.  
     
     
         31 . The method of  claim 27  wherein the wide area network is the Internet.  
     
     
         32 . The method of  claim 27  further comprising automatically generating a bill for a fee for each purchase order for which information is recorded in the second database.  
     
     
         33 . The method of  claim 27  wherein part (a) also includes accepting geographic data for each of the potential sellers, wherein part (b) also includes accepting specifications of one of several geographic regions, and wherein part (c) also includes limiting matching products to those products in the geographic region specified by the potential buyer.  
     
     
         34 . The method of  claim 27  wherein accepting product configuration data includes accepting information concerning the products' brand, style, or make.  
     
     
         35 . The method of  claim 34  wherein accepting product configuration data also includes accepting information concerning the products' color choices, options, or feature choices.  
     
     
         36 . A method for implementing an electronic product exchange comprising: 
 (a) making accessible through a generally available wide area network a first computer database containing pricing data and product configuration data for a multitude of different products for sale by a multitude of potential sellers;    (b) making accessible through the network a processor capable of receiving a command from personal computers of a multitude of potential buyers coupled to the network, which processor is capable of: 
 (1) searching the first computer database for those products of the multitude that match a request containing select product configuration data transmitted through the wide area network by one of the potential buyers, and  
 (2) automatically transferring the pricing data and product configuration data of the matching products through the wide area network to the personal computer of the potential buyer who made the request; and  
   (c) automatically recording in a second computer database buyer identification data, seller identification data, price, and product configuration data in response to purchase orders transmitted over the network from the personal computer of a potential buyer.    
     
     
         37 . The method of  claim 36  further comprising configuring the first computer database so that each of the potential sellers can perform a mass upload at will of the pricing data and product configuration data for products being offered by each such potential seller.  
     
     
         38 . The method of  claim 36  further comprising coupling to the second computer database an automated billing system capable of automatically generating a bill for a fee for each purchase order transmitted over the network from the personal computer of a potential buyer.  
     
     
         39 . The method of  claim 36  wherein the wide area network is the Internet.  
     
     
         40 . An electronic product exchange system comprising: 
 (a) a file server accessible through a generally available wide area network: 
 (1) from personal computers of a multitude of potential buyers coupled to the network, and  
 (2) by a multitude of potential sellers;  
   (b) a first computer database, accessible to the file server, containing pricing and product configuration data for a multitude of different products for sale;    (c) a processor coupled to the file server and capable of: 
 (1) searching the first computer database for those products of the multitude that match a request containing select product configuration data transmitted through the wide area network by one of the potential buyers, and  
 (2) automatically transferring the pricing data and product configuration data of the matching products through the wide area network to the personal computer of the potential buyer who made the request; and  
   (d) a second computer database coupled to the file server and capable of automatically recording buyer identification data, seller identification data, price, and product configuration data in response to purchase orders transmitted over the wide area network to the file server from the personal computer of a potential buyer.    
     
     
         41 . The system of  claim 40  further comprising an automated billing system capable of automatically generating a bill for a fee for each purchase order transmitted over the wide area network to the file server from the personal computer of a potential buyer.  
     
     
         42 . The system of  claim 40  further comprising a seller identification database.  
     
     
         43 . The system of  claim 40  wherein the potential sellers can upload to the file server at will the pricing data and product configuration data for products being offered by the potential sellers.  
     
     
         44 . The system of  claim 40  wherein each potential seller can perform a mass upload to the file server of pricing data and product configuration data for all products of that potential seller.  
     
     
         45 . The system of  claim 40  further comprising a network link between the file server and financial institutions.  
     
     
         46 . The system of  claim 40  wherein the wide area network is the Internet.  
     
     
         47 . The system of  claim 40  wherein the product configuration data includes information concerning the products' brand, style, or make.  
     
     
         48 . The system of  claim 47  wherein the product configuration data also includes information concerning the products' color choices, options, or feature choices.  
     
     
         49 . The system of  claim 40  wherein the first computer database stores the data in price-ordered categories.  
     
     
         50 . The system of  claim 40:   (a) wherein the wide area network is the Internet;    (b) wherein the potential sellers can upload to the file server at will the pricing data and product configuration data for products being offered by the potential sellers; and    (c) further comprising an automated billing system capable of automatically generating a bill for a fee for each purchase order transmitted over the wide area network to the file server from the personal computer of a potential buyer.