Computer program, system, and method for selling items

A computer-implemented method of selling products via the Internet or another communications network comprising the steps of:

• a) implementing a website with a computer system;
• b) permitting users to access the website via the Internet or other communications network;
• c) presenting, via the website, product information about a plurality of products to the users, the product information including at least a description and an initial price for each product;
• d) permitting a user to select a product and enter a bid process for the selected product;
• e) receiving an entry fee from the user for the bid process;
• f) deducting at least a portion of the entry fee from the initial price of the selected product to determine a reduced price for the selected product;
• g) displaying the reduced price for the selected product on the website;
• h) repeating steps (d)-(g) each time another user enters the bid process for the selected product;
• and
• I) permitting any of the users who entered the bid process and paid the entry fee to purchase the selected product at the reduced price.

A computer-implemented method of selling products via the Internet or another communications network comprising the steps of:

• a) implementing a website with a computer system;
• b) permitting users to access the website via the Internet or other communications network;
• c) presenting, via the website, product information about a plurality of products to the users, the product information including at least a photo or image of each product, a description of each product, and an initial price for each product;
• d) permitting a user to select a product and enter a bid process for the selected product;
• e) initiating a count-down of a prescribed time period once the user enters the bid process;
• f) receiving an entry fee from the user for the bid process;
• g) deducting some but not all of the entry fee from the initial price of the selected product to determine a reduced price for the selected product;
• h) displaying the reduced price for the selected product on the website to all users who access the website;
• I) repeating steps (f)-(h) each time another user enters the bid process for the selected product;
• j) displaying on the website information representative of the countdown;
• k) permitting any one, but only one, of the users who entered the bid process and paid the entry fee to purchase the selected product at the reduced price within the prescribed time period;
• l) removing the selected product from the bid process if one of the users who entered the bid process and paid the entry fee elects to purchase the selected product at the reduced price during the prescribed time period;
• and
• m) removing the product from the bid process if none of the users who entered the bid process and paid the entry fee elect to purchase the product at the reduced price within the prescribed time period.