Internet business method for securing immediate fractional price and a subsequent commission
Original Publication Date: 2001-Aug-01
Included in the Prior Art Database: 2003-Jun-20
Internet business method for securing immediate fractional price and a subsequent commission Disclosed is an Internet business method for securing immediate fractional price and a subsequent commission while selling an item over the Internet. The method is useful because selling items in electronic auctions or in used book virtual stores is not worthwhile for many people who are short of time. Often the money obtained from selling an item is not worth the trouble of spending time communicating with the buyer or going to a shipper to ship the item for a single individual who is not selling too many items at a time. Hence the problem is the following: How to arrive at a business method that will save time for the casual seller of items over the Internet and at the same time fetch him a fair price? Disclosed is a business method where a merchant with a physical store would act as an agent for the casual seller to sell the item for him over the Internet. Initially, the casual seller takes his item and goes to the physical store. The casual seller may have already gone to the physical store's site and obtained a range of prices he can reasonably obtain for his item. The agent in the physical store examines that item and offers to pay a certain amount of money immediately to the casual seller. The agent would put up the item for sale in an electronic auction, and for whatever extra money the item fetches the casual seller would get a certain percentage electronically remitted to him. If the item is sold in a fixed price environment then the casual seller and agent can arrive at a mutually agreeable price to put up the item for sale or a means of changing the price should the item not be sold within a reasonable amount of time. Once the item is sold the casual seller would get a certain percentage of the extra money the item fetches. The agent handles shipping etc. Within this broad framework there may be many obvious twists and ramifications such as mechanisms that allow the casual seller to verify (for example by having all communications copied to him by the auction site, agent, buyer etc.) that he is being sent the correct commission.