Method and system for auctioning bankruptcy assets and valuing same

A computer system for auctioning at least one claim or asset in bankruptcy over a communication network, said system comprising:

• a memory comprising:
• code for identifying potential buyers for said at least one claim or asset using at least one of a plurality of factors, the factors comprising previous purchasing behavior, industry links, and market research;
• code for notifying selected ones of the potential buyers of the availability of said at least one claim or asset;
• code for determining a market value of said at least one claim or asset using historical data of same or similar claims or assets, said determining comprising:
• accessing historical data of sales of claims or assets previously recorded, determining a claim or asset unit value based on said historical data, and formulating said market value based on said claim or asset unit value and number of said claims or assets available;
• code for dynamically adjusting said market value based on known factors;
• code for registering ones of said buyers who have expressed an interest in bidding on said at least one claim or asset;
• code for obtaining bids from said registered buyers over said network;
• and
• code for accepting a highest one of said bids if said highest one of said bids satisfies a predetermined criteria and notifying said registered buyer from which said highest one of said bids was obtained of the acceptance thereof;
• or
• code for rejecting said bids if said bids do not satisfy said predetermined criteria;
• a processor in communication with said memory operable to execute said codes within said memory.