New Patent-Pending Online Reverse Auction System 'Tip-Mart'

Yahoo! Finance reports: In Tip-Mart's reverse auction, buyers no longer are required to search through and evaluate thousands of potential sellers to locate legal services. Instead, buyers merely post unlimited free reverse auctioned-classifieds ("tipmarts" = "systems and methods for online reverse auctions") for a particular good or service. The burden is then shifted to interested sellers to competitively bid among other interested sellers to provide the good or service to the buyer. The buyer is then able to conveniently and easily evaluate various offers based on reputation, price, quality, users' feedback- ratings, or other terms and then accept the best offer. Thus, the system eliminates market inefficiencies, drives down prices, increases sales, and provides value to both buyers and sellers.
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