Real-time internet auction system

A real-time auction system comprising:

• a first computer operated by an auction organizer;
• a second computer operated by an assessor who exhibits and sells products;
• a plurality of third computers operated by buyers;
• a fourth computer in a center for processing;
• all of the computers being connected to an online system for receiving and sending data on an auction;
• the auction being performed as follows:
• step 1:
• the buyers bid a price for a product during a first predetermined time period, with the bid price being transmitted to the first computer;
• step 2:
• status of bidding on the product is transmitted to all of the computers over the online system;
• step 3:
• the organizer, the assessor and the buyers confirming the bidding status during a second predetermined time period;
• step 4:
• if there is more than one bid above a reserve price for the product set by the assessor, step 1, step 2 and step 3 are repeated a predetermined number of times until there is only one bid left;
• the one bid left being the successful bidder;