Wednesday, October 10, 2012

Amazon.com, Inc. (NASDAQ:AMZN) Applies For A Patent Related To Online Haggling System

Haggling is a popular form of purchasing and selling goods all over the world. It is practiced at flea markets and yard sales. However, the online shopping category involves no haggling. One either pays the price the seller wants or does not buy it. That might change as Amazon.com, Inc.(NASDAQ:AMZN) has filed a patent for an online haggling system.

Haggling system offered b y Amazon lets buyers and sellers to interact with each other and make offers and counteroffers unless both the parties are content with the price agreed upon. It would work in somewhat similar way if a user is trying to talk the price down to $20 for two pairs of those fancy discounted sunglasses at a local flea market, but only this time there is no awkward for-real interaction.

Amazon has also offered a unique rating system that would benefit both sellers and buyers. Ratings could be based on average closing costs, flexibility and how possibly either side is to forget about a deal before it is struck. This type of rating system would easily take out all of the cheap stakes.

It is not yet known if Amazon will actually launch an online haggling system. It would not be the first time that a site has incorporated the same kind of system. eBay has their own ‘Best Offer’ feature, where buyers can place their own offers on auction listings if the seller has enabled the feature.

Haggling is pretty popular and it is a mandatory feature in the virtual world. However, it is still a rare option in the online space. If Amazon ever puts its new patent into practice, people could soon be trying to settle for a better price without the mock drama of a face-to-face bargaining encounter. So, this move needs to be watched out for. 

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