System and method for generating exponential expansion of commerce
View Patent ↗A system and method for turning a buyer into a prospective seller in an electronic marketplace. After the buyer enters into a binding agreement to purchase an item, the buyer is provided with an option of re-listing the purchased item for resale. The purchased item is re-listed if the buyer opts to re-list it. An ecommerce listing to sell the purchased item is automatically generated based on the previous listing. The user only needs to provide the selling price to complete the listing. The purchased item can be re-listed in the same marketplace where the item was purchased or in a different marketplace.
1. A computer implemented method for a buyer to sell a product/service prior to purchasing said product/service in an electronic marketplace, comprising the steps of:
querying said buyer of said product/service in a buy/sell transaction to sell said product/service in said electronic marketplace before said buyer purchases said product/service via a client device associated with said buyer by a creation module of a server managing said electronic marketplace over a communications network;
generating a binding or non-binding listing of said product/service for sale in said electronic marketplace before said buyer purchases said product/service by a listing module of said server;
storing said binding or non-binding listing of said product/service in a database;
receiving a request to purchase said product/service based on said binding or non-binding listing of said product/service from a client device associated with a prospective buyer by a transaction module of said server over said communications network; and
processing said request to purchase by said transaction module of said server to complete said buy/sell transaction of said product between said buyer and said prospective buyer, thereby facilitating current or future sale of said product/service before said buyer purchases said product/service.
2. A computer implemented method for a buyer to sell a product/service prior to purchasing said product/service in an electronic marketplace, comprising the steps of:
receiving a request from a client device associated with said buyer of said product/service in a buy/sell transaction to resell said product/service in said electronic marketplace before said buyer purchases said product/service by a creation module of a server managing said electronic marketplace over a communications network;
receiving a binding or non-binding listing of said product/service for sale in said electronic marketplace before said buyer purchases said product/service generated by a listing module of said server;
receiving a message from a transaction module of said server that a prospective buyer agrees to purchase said product/service based on said binding or non-binding listing of said product/service by said client device associated with said buyer over said communications network; and
receiving a confirmation from said transaction module of said server that said buy/sell transaction of said product between said buyer and said prospective buyer has been completed, thereby facilitating current or future sale of said product/service before said buyer purchases said product/service.
3. A system for a buyer to sell a product/service prior to purchasing said product/service in an electronic marketplace, comprising:
a client device connected to a communications network and associated with said buyer;
a server, connected to said communications network, for managing an electronic marketplace and comprising:
a creation module for querying said buyer of said product/service in a buy/sell transaction to sell said product/service in said electronic marketplace before said buyer purchases said product/service via a client device associated with said buyer over a communications network;
a listing module for generating a binding or non-binding listing of said product/service for sale in said electronic marketplace before said buyer purchases said product/service;
a database for storing said binding or non-binding listing of said product/service; and
a transaction module for receiving a request to purchase said product/service based on said binding or non-binding listing of said product/service from a client device associated with a prospective buyer over said communications network, and processing said request to purchase to complete said buy/sell transaction of said product between said buyer and said prospective buyer, thereby facilitating current or future sale of said product/service before said buyer purchases said product/service.