Web-based search and bidding system and method

Abstract

A method of accepting a bid for an item offered for sale through an internet web portal comprising the following steps: listing with an internet web portal bid program by an item being sold by a merchant; accessing the internet web portal bid program by a user to obtain of bid information of the item; placing with the internet web portal bid program by the registered user of a bid for the item, the bid containing a price that the registered user will pay for the item; presenting by the internet web portal bid program to the registered merchant of one or more economic factors to assist the registered merchant in selecting at least one bid from the one or more bids as a winning bid, one or more economic factors being based on item information and being other than the bid price.

What is claimed is: 
     
         1 . A method of accepting a bid for purchasing an item offered for sale through an internet web portal comprising the following steps:
 (A) listing for bid with an internet web portal bid program of an item being sold by a merchant, the merchant being previously registered with the internet web portal;   (B) accessing the internet web portal bid program by a user to obtain of information for the bid item, the user being previously registered with the internet web portal;   (C) placing with the internet web portal bid program by the registered user of a bid for the item, the bid containing a price that the registered user will pay for the bid item;   (D) accessing the internet web portal bid program by the registered merchant to obtain bid information on one or more bids for the bid item as placed by registered user and any other biding registered users;   (E) presenting by the internet web portal bid program to the registered merchant of one or more economic factors other than the bid price to assist the registered merchant in accepting at least one bid from the one or more bids for the bid item, and   (F) processing as a sale by the registered merchant of at least one bid from the one or more bids for the bid item.   
     
     
         2 . The method of  claim 1  wherein the economic factors are processed by the internet web portal bid program based on item information provided by the registered merchant. 
     
     
         3 . The method of  claim 1  wherein the economic factors being changed are dynamic economic factors while the economic factors that are not being changed are static economic factors. 
     
     
         4 . The method of  claim 3  wherein the static economic factors can be one static economic factor from a set of static economic factors consisting of manufacturer's suggested retail price, merchant's actual purchase price of item, merchant's item sale price. 
     
     
         5 . The method of  claim 3  wherein the dynamic economic factors can be one dynamic economic factor from a set of dynamic economic factors consisting of the registered merchant's loss at accepting the one bid for the bid item to be processed as a sale by the registered merchant, the registered merchant's profit at accepting the one bid for the bid item to be processed as a sale by the registered merchant. 
     
     
         6 . The method of  claim 1  further comprising a step of changing the one or more presented economic factors after the close of bidding by at least changing a numeral amount of the minimal bid value that the registered merchant would accept for a bid. 
     
     
         7 . The method of  claim 1  wherein the economic factors are not displayed to the registered user. 
     
     
         8 . The method of  claim 1  wherein the processing of one bid further includes a step of processing for sale any other bids for the bid item whose bid price is the same or higher than the accepted one bid. 
     
     
         9 . The method of  claim 1  further comprising of a step of visually presenting data to the user through a scrolling ticket tape display, the type of data presented is social media as selected by user. 
     
     
         10 . The method of  claim 1  further comprising a step of searching by the registered user though an online single source retail item mega database containing the retail inventories of over seventy-five thousand retail merchants that the registered user accesses through the internet web portal to identify an item to place a bid upon. 
     
     
         11 . The method of  claim 1  wherein the registered merchant is one of over seventy-five thousand retail merchants whose combined retail item inventories are listed in an online single source retail item mega database that user accesses through the internet web portal to identify an item to place a bid upon. 
     
     
         12 . A method of accepting a bid for purchasing an item for sale through an internet web portal comprising the following steps:
 (A) listing for bid with an internet web portal bid program by an item being sold by merchant;   (B) placing a bid for the item with the internet web portal bid program by the user, the bid containing a price that the user will pay for the item;   (C) accessing the internet web portal bid program by the merchant to obtain bid information on one or more bids for the bid item as placed by the user and any other bidding user;   (D) presenting by the internet web portal bid program to the merchant of one or more economic factors other than bid price to assist as those factors relate to a particular bid for the item;   (E) changing at least one value of the one or more economic factors by changing the value of a bid amount that the merchant will be willing to accept as a winning bid; and   (F) processing by the merchant of at least one winning bid from the one or more bids for the bid item as a sale.   
     
     
         13 . The method of  claim 12  wherein the economic factors are processed by internet web portal bid program based on item information previously entered by the merchant. 
     
     
         14 . The method of  claim 12  wherein the economic factors whose values are not changed by changing the value of a bid amount that the registered merchant will accept as a winning bid can be one economic factor from a set of economic factors consisting of manufacturer's suggested retail price, merchant's actual purchase price of item, merchant's item sale price. 
     
     
         15 . The method of  claim 12  wherein the economic factors whose values are changed by changing the value of a bid amount that the merchant will accept as a winning bid can be one economic factor from a set of economic factors consisting of the merchant's loss at accepting the one winning bid for the bid item to be processed as a sale by the merchant, the merchant's profit at accepting the one winning bid for the bid item to be processed as a sale by the merchant. 
     
     
         16 . The method of  claim 12  wherein the economic factors are not displayed to the user. 
     
     
         17 . The method of  claim 12  wherein the processing by the registered merchant further comprises a step of using the economic factors along with item bid price by the merchant to accept at least one winning bid as the at least one bid for processing as a sale. 
     
     
         18 . The method of  claim 12  wherein the processing as a sale by the merchant further comprises a step of using the economic factors along with item bid price by the merchant to select at least winning bid for bid item as the at least one bid for processing as a sale. 
     
     
         19 . The method of  claim 18  wherein the processing of one bid as a sale further includes a step of processing for sale any other bids for bid item whose bid price are the same or higher than the at least one winning bid. 
     
     
         20 . The method of  claim 12  further comprising the step of using the economic factors along with item bid price by the registered merchant to reject bids for the bid item as at least one winning bid as the at least one bid for processing as a sale.