Importance

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Abstract

A method of conducting a telephone or internet based reverse auction for selling units where the reverse auction is transmitted to users on a medium, the method comprising the steps of providing a number of units for sale and storing a preliminary available quantity in an allocation database initially indicative of the number provided for sale, providing a telephone number or web site to which calls or orders from users can be placed to enter the reverse auction, recording the time at which one or more calls or orders were received on the telephone number or at the website in a record database, placing any callers into a queue and assigning them to a call operator or system in order to sell a unit, conducting a reverse auction in which a person or system reduces the indicated price of a unit over time and in which a producer or system reduces the preliminary available quantity, the reverse auction is concluded at the time of the preliminary available quantity is reduced to a pre-determined number, such as zero, with the price at the conclusion being stored in an auction database, wherein the preliminary available quantity is reduced based at least partly on one or more preliminary indicators associated with a call/user, such as the time of the acceptance of the call or order in the record versus the timing of the auction, which indicator(s) occur before a sale of a unit is completed/confirmed.

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First Claim