Seller automated engine methodology for optimized pricing strategies in automated real-time iterative reverse auctions over the internet and the like for the purchase and sale of goods and services

A method of communications-network shopping by buyers of products and services for purchasing such from sellers, wherein buyers request an automatic reverse auctioneer or auction controller (RAC) to initiate a reverse auction in real time amongst willing sellers and to solicit from automated seller engines (SAEJ) of the sellers their automatic real-time iterative bidding price quotations for such products and services to be returned automatically over the network back to the controller without any manual intervention and under the iterative processing guidance of the controller to assure a best bid price quotation for the buyer;

• the method comprising,
• implementing price managing within a processor, for receiving price requests and outputting a price quotation, an automated seller engine (SAEJ) that is responsible for receiving requests from the controller (RAC) for one or more items that the buyer expresses interest in buying;
• in the light of received market data and historical prices, configuring the seller engine itself to enter the business objectives of that seller in specific terms of targets or goals that the seller enters;
• and,
• within the seller engine, automatically optimizing prices for at least two different seller goals and integrating the prices at the seller engine for realizing the business objectives of the seller as configured in said engine.