A method of operating an online dynamic-bidding exchange for use in a reverse auction. The exchange includes a server system that includes a database, and a client system coupled to the server system via a communications network. The method includes determining a lowest credible price of a product, and receiving one or more offers to sell the product from a seller and storing the offers to sell in the database, wherein the offers to sell is embodied as a reserve price. The method also includes determining a sales price of the product based on a comparison of the lowest credible price and the competing reserve prices, transmitting the sales price from the server system to the client system, and displaying the sales price to a buyer via the client system.