Comparable-based pricing for non-identical inventory

A method for updating a price for an item stored in an electronic database of inventory, the method comprising using at least one processor configured with code executing therein, a memory for storing the code and a communication to at least one database of references to inventory available for sale, where in the processor is configured implement the steps of:

• a. accessing at least one inventory item to be priced, wherein the price of the inventory item is to be accessible to users of an electronic inventory platform;
• b. generating a filtering protocol using one or more pre-set pricing criteria,
• c. storing the filtering protocol in a database;
• d. retrieving a plurality of comparable inventory items from an inventory exchange server wherein the listing of comparable inventory retrieved includes a plurality of data parameters associated with each listing and wherein at least one of the associated data parameters of each listing corresponds to the present price that the inventory item is offered for sale;
• e. filtering the plurality of comparable inventory items using the filtering protocol to generate a filtered dataset;
• f. determining an aggregate market price based on the respective prices of the items in the filtered dataset;
• g. generating a price for the at least one inventory item based on the determined aggregate market price;
• and
• h. updating the electronic inventory platform to reflect the generated price for the at least one inventory item.