System and method for device valuation

• US 10,395,284 B2
• Filed: 02/20/2018
• Issued: 08/27/2019
• Est. Priority Date: 02/12/2016
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Yost, Robert, Sabba, Yaasha
• Primary Examiner(s): Tran, Khai
• Application Number:
  US15/900,159
• Publication Number:
  US 20180174208A1
• Time in Patent Office: 553 Days
• Field of Search: 375224, 375222, 455 6711, 455 6712, 702182, 702186, 705306
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/0623 Item investigation

Abstract

Described herein is a platform and method for providing a device valuation for an electronic device based on parameter values of the electronic device. The method may comprise obtaining a model information of the electronic device and identifying a base value of the electronic device. In some embodiments, a device specific performance evaluation may be executed on a hardware component contained with the electronic device. Upon execution of the performance evaluation, a set of parameter values may be generated using input collected with respect to the performance evaluation. A valuation of the electronic device may subsequently be generated based upon the base value and the set of parameter values.

Claims

1. A computer-implemented method comprising:

receiving, at a service provider from a device, set of parameters related to the operation of the device as well as an indication that the electronic device is to be offered for sale, the set of parameters obtained from one or more sensors installed on the device capable of collecting data metrics related to the performance of the device;

querying, by the service provider, a database of model information to retrieve one or more specifications for the electronic device;

estimating, based on the set of parameters related to the device and the one or more specifications, a current value for the device;

generating, by the service provider, a product listing to include at least a portion of the one or more specifications and the current value, the product listing comprising a network document that includes an offer for sale of the device; and

posting the product listing to an electronic marketplace.

2. The computer-implemented method of claim 1, wherein the set of parameters is received upon initiation of the method via a mobile device.

3. The computer-implemented method of claim 1, wherein the set of parameters is received upon initiation of the method via a button on the electronic device.

4. The computer-implemented method of claim 1, wherein the set of parameters comprises performance metrics for the electronic device.

5. The computer-implemented method of claim 4, wherein estimating the current value for the electronic device comprises comparing the performance metrics for the electronic device to expected parameter values for the electronic device.

6. The computer-implemented method of claim 1, wherein the set of parameters comprises a device valuation generated by the electronic device.

7. The computer-implemented method of claim 1, wherein the computer-implemented method is performed without user interaction.

8. The computer-implemented method of claim 1, wherein the estimating the current value for the device is based upon values derived from product listings for a number of similar electronic devices.

9. The computer-implemented method of claim 1, wherein the set of parameters comprises an indication of an upgrade, add-on, modification, or additional feature made to the electronic device.

10. The computer-implemented method of claim 1, wherein the current value for the electronic device is estimated using one or more valuation formulae.

11. The computer-implemented method of claim 1, further comprising querying the database of model information for an image of the electronic device, wherein the product listing is generated to include the image of the electronic device.

12. A service provider computer comprising:

a processor; and

a memory including instructions that, when executed with the processor, cause the service provider computer to, at least;

receive, from a device, a set of parameters related to the device as well as an indication that the electronic device is to be offered for sale the set of parameters obtained using one or more sensors capable of collecting data metrics related to the performance of the device;

query a database of model information to retrieve one or more specifications for the electronic device;

generate, by the service provider, a product listing to include at least a portion of the one or more specifications, the product listing comprising a network document that includes an offer for sale of the device; and

post the product listing to an electronic marketplace.

13. The service provider computer of claim 12, wherein the service provider is an operator of the electronic marketplace.

14. The service provider computer of claim 12, wherein the electronic marketplace is an auction electronic marketplace.

15. The service provider computer of claim 12, wherein the database of model information comprises at least one of a description or an image for each of a plurality of electronic devices.

16. The service provider computer of claim 12, wherein the database of model information comprises at least a set of expected parameter values for each of a plurality of electronic devices.

17. An electronic device comprising:

a processor; and

a memory including instructions that, when executed with the processor, cause the electronic device to, at least;

receive an indication that the electronic device is to be offered for sale;

execute a performance evaluation to obtain one or more parameter values the one or more parameter values obtained using one or more sensors capable of collecting data metrics related to the performance of the electronic device;

provide the one or more parameter values to a service provider computer associated with an electronic marketplace, the service provider computer caused to;

estimate a current value for the electronic device based on the one or more parameters;

generate a product listing for the electronic device to include the current value, the product listing comprising a network document that includes an offer for sale of the device; and

post the product listing to the electronic marketplace.

18. The electronic device of claim 17, further comprising an activation mechanism, wherein the indication that the electronic device is to be offered for sale is received upon activation of the activation mechanism.

19. The electronic device of claim 18, wherein the activation mechanism is a button.

20. The electronic device of claim 17, wherein the electronic device is configured to communicate with a user device, the indication that the electronic device is to be offered for sale being received via the user device.