System and method for structuring an online auction when reserve price is not met

• US 10,417,697 B2
• Filed: 06/05/2015
• Issued: 09/17/2019
• Est. Priority Date: 12/17/2012
• Status: Active Grant

• Current Assignee: Ten-X, LLC
• Original Assignee: Ten-X, LLC
• Inventors: Hudson, James, Dever, Nathaniel
• Primary Examiner(s): Palavecino, Kathleen
• Application Number:
  US14/732,595
• Publication Number:
  US 20150287132A1
• Time in Patent Office: 1,565 Days
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

A system and method for structuring an online auction when a reserve price is not met are described. In an online auction, bidding activity is analyzed over a duration to determine whether there are multiple active bidders for the auction and whether the reserve price for the auction is met after a designated period of time. In response to making that determination, the bidder interface for a sole active bidder on the auction can be automatically updated to include a notification that the bid has not met the reserve price and an option to place a new bid on the item so that the auction is successful and does not end with no bids meeting the reserve.

Claims

1. A computer-implemented method for providing a dynamically-updated bidder interface for an online auction, the method being implemented by a network system and comprising:

providing, on a computing device of a bidder of the online auction, a bidder interface that enables bidding on an item being auctioned when the online auction is in progress, wherein the bidder interface allows entry of a bid based on a bid increment having a default value;

determining to alter the bid increment of the online auction based at least in part on;

(i) a reserve price for the online auction not being met, and (ii) a time remaining for the online auction;

in response to determining to alter the bid increment, automatically updating the bidder interface to include an indication that the bid has not met the reserve price and an updated bid increment based on a difference between a current highest bid for the online auction and the reserve price of the online auction;

in response to determining to alter the bid increment, extending an ending time for the online auction; and

in response to extending the online auction, enabling, via the bidder interface, the bidder to send a message to a seller of the item of the online auction.

2. The computer-implemented method of claim 1, wherein determining to alter the bid increment of the online auction is further based on a determination that the bidder is the only bidder who has placed a bid on the item.

3. The computer-implemented method of claim 1, wherein updating the bidder interface for the bidder includes selecting the bidder interface from a plurality of bidder interfaces based on auction data and bidder data.

4. The computer-implemented method of claim 3, wherein the seller of the item selects the bidder interface.

5. The computer-implemented method of claim 1, wherein the current highest bid plus the updated bid increment meets or exceeds the reserve price.

6. A non-transitory computer-readable medium that stores instructions, executable by one or more processors of a network system, to cause the network system to perform operations that comprise:

providing, on a computing device of a bidder of an online auction, a bidder interface that enables bidding on an item being auctioned when the online auction is in progress, wherein the bidder interface allows entry of a bid based on a bid increment having a default value;

determining to alter the bid increment of the online auction based at least in part on;

(i) a reserve price for the online auction not being met, and (ii) a time remaining for the online auction;

in response to determining to alter the bid increment, automatically updating the bidder interface to include an indication that the bid has not met the reserve price and an updated bid increment based on a difference between a current highest bid for the online auction and the reserve price of the online auction;

in response to determining to alter the bid increment, extending an ending time for the online auction; and

enabling, via the bidder interface, the bidder to send a message to a seller of the item of the online auction in response to extending the online auction.

7. The non-transitory computer-readable medium of claim 6, wherein determining to alter the bid increment of the online auction is further based on a determination that the bidder is the only bidder who has placed a bid on the item.

8. The non-transitory computer-readable medium of claim 6, wherein updating the bidder interface for the bidder includes selecting the bidder interface from a plurality of bidder interfaces based on auction data and bidder data.

9. The non-transitory computer-readable medium of claim 8, wherein the seller of the item selects the bidder interface.

10. The non-transitory computer-readable medium of claim 6, wherein the current highest bid plus the updated bid increment meets or exceeds the reserve price.