The invention discloses a reverse auction system and method. The reverse auction system provided by the invention comprises: establishing a service center, a retrieval module, an account module and an announcement module in a computer network environment; the service center transforming the need of an object seeker into announcement data or retrieval data; the retrieval module being externally connected with one or more auction websites for retrieval data comparison and feedback; and the announcement module synchronously propagating the announcement data in a network. The system is utilized in the reverse auction method for reverse object seeking retrieval, and network propagation is synchronously carried out by cooperating with the network. By using the reverse auction system and method, the tangible and intangible special object seeking need of the object seeker can be met, one-to-many or one-to-one auction communication can be carried out among any users in the network, and the object seeking need can be rapidly searched from an auction website.