A method and system for electronically selling a data item such as a song, a literature piece or a picture. A data repository is used for a seller to store the data item that the seller wishes to sell for a fee. The data repository is accessible to a buyer who deposits a fund to the data repository prior to downloading the data item. Preferably, the data repository is connected to a telecommunication network such as the Internet so that the buyer can download the purchased data item directly through the telecommunication network. Preferably, the seller posts a price which is the maximum amount the seller wishes to collect and sets a minimum amount that the seller is willing to collect from the buyer for downloading the data item. Preferably, the buyer makes an offer to the data repository wherein a software program is used to check whether the offered price falls within the fee range as set by the seller.