Reverse auction system with guaranteed funds and dynamic sale allocation

Non-transitory computer-readable storage media encoded with a computer program including instructions executable by a processor to create an intermediary application for a reverse auction environment comprising:

• a) a database, in a computer memory, of a plurality of sellers;
• b) a software module configured to:
• receive an offer to buy from a buyer, the offer to buy directed to a plurality of items, each item having a price, the plurality of items comprising at least two non-identical items, the offer to buy having a total price;
• receive a proposed purchase price for the plurality of items from the buyer, the proposed purchase price being equal to or less than the total price;
• and calculate a respective share of the proposed purchase price for each item;
• c) a software module configured to verify availability of funds from the buyer in the amount of at least a portion of the proposed purchase price before or concurrent with receiving bids from one or more of the plurality of sellers;
• d) a software module configured to receive bids from the plurality of sellers, the bids for sale of one or more of the plurality of items, each bid having a price for the one or more of the plurality of items in the bid;
• e) a software module configured to select one or more bidding sellers upon the expiration of a time period, each selected seller bidding on one or more of the plurality of items at a price equal to or less than the share of the proposed purchase price for the items in the bid;
• f) a dynamic item and price allocation module configured to allocate sale of each of the plurality of items to one or more of the selected sellers, wherein each item in the plurality of items is allocated at an allocated price, wherein the aggregate allocated price for the plurality of items is equal to or less than the proposed purchase price, the one or more sellers receiving the allocation based on one or more seller characteristics selected from the group consisting of:
• price, shipping speed, shipping provider, local delivery availability, local pickup availability, seller rating, seller ranking, number of previous sales, warranty, payment methods accepted, and condition of previously delivered items, the allocation immediately making the sale binding, wherein the allocation of sale of each of the plurality of items occurs after verifying availability of funds from the buyer or receiving bids from the plurality of sellers;
• and
• g) a software module configured to distribute the verified funds to the one or more sellers, wherein the distribution of the verified funds occurs after verifying availability of funds from the buyer or receiving bids from the plurality of sellers.

A system for computer-implemented auction technology in which guaranteed funds are dynamically allocated among a plurality of acquired items, comprising:

• a) a digital processing device comprising an operating system configured to perform executable instructions and a memory;
• b) a computer program including instructions executable by the digital processing device to create an intermediary application for a reverse auction environment comprising:
• i. a database, in a computer memory, of a plurality of sellers;
• ii. a software module configured to:
• receive an offer to buy from a buyer, the offer to buy directed to a plurality of items, each item having a price, the plurality of items comprising at least two non-identical items, the offer to buy having a total price;
• receive a proposed purchase price for the plurality of items from the buyer, the proposed purchase price being equal to or less than the total price;
• and calculate a respective share of the proposed purchase price for each item;
• iii. a software module configured to verify availability of funds from the buyer in the amount of at least a portion of the proposed purchase price before or concurrent with receiving bids from one or more of the plurality of sellers;
• iv. a software module configured to receive bids from the plurality of sellers, the bids for sale of one or more of the plurality of items, each bid having a price for the one or more of the plurality of items in the bid;
• v. a software module configured to select one or more bidding sellers upon the expiration of a time period, each selected seller bidding on one or more of the plurality of items at a price equal to or less than the share of the proposed purchase price for the items in the bid;
• vi. a dynamic item and price allocation module configured to allocate sale of each of the plurality of items to one or more of the selected sellers, wherein each item in the plurality of items is allocated at an allocated price, wherein the aggregate allocated price for the plurality of items is equal to or less than the proposed purchase price, the one or more sellers receiving the allocation based on one or more seller characteristics selected from the group consisting of:
• price, shipping speed, shipping provider, local delivery availability, local pickup availability, seller rating, seller ranking, number of previous sales, warranty, payment methods accepted, and condition of previously delivered items, the allocation immediately making the sale binding, wherein the allocation of sale of each of the plurality of items occurs after verifying availability of funds from the buyer or receiving bids from the plurality of sellers;
• and
• vii. a software module configured to distribute the verified funds to the one or more sellers, wherein the distribution of the verified funds occurs after verifying availability of funds from the buyer or receiving bids from the plurality of sellers.