User-specified time-based proxy firing in online auctions
First Claim
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1. A method for bidding by proxy in an automated offering or auctioning system on behalf of a bidder or participant, comprising the steps of:
- providing a bid parameter set having one or more proxy bid parameters, said proxy bid parameters indicating proxy conditions for at least one offering or auction to which proxy bidding is to be made;
checking at least one current bid level in a bid data store of an offering or auction system;
determining if any of said proxy conditions have been met; and
placing a counter bid into at least one auction responsive to said proxy conditions being met.
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Abstract
A proxy agent for an online or automated auction or offering system which allows automatic proxy bidding within user-specified limits and conditions, including one or more maximum bid limits related to one or more time periods during the open bidding time, a maximum bid limit during a period prior to bidding close time, and a bidding pace control.
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Citations
15 Claims
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1. A method for bidding by proxy in an automated offering or auctioning system on behalf of a bidder or participant, comprising the steps of:
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providing a bid parameter set having one or more proxy bid parameters, said proxy bid parameters indicating proxy conditions for at least one offering or auction to which proxy bidding is to be made;
checking at least one current bid level in a bid data store of an offering or auction system;
determining if any of said proxy conditions have been met; and
placing a counter bid into at least one auction responsive to said proxy conditions being met. - View Dependent Claims (2, 3, 4, 5)
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6. A computer-readable medium having program code stored therein for bidding by proxy in an automated offering or auctioning system on behalf of a bidder or participant, said automated offering or auctioning system having a processor suitable for executing program code, said program code when executed causing the offering or auctioning system to perform the steps of:
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providing a bid parameter set having one or more proxy bid parameters, said proxy bid parameters indicating proxy conditions for at least one offering or auction to which proxy bidding is to be made;
checking at least one current bid level in a bid data store of an offering or auction system;
determining if any of said proxy conditions have been met; and
placing a counter bid into at least one auction responsive to said proxy conditions being met. - View Dependent Claims (7, 8, 9, 10)
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11. A proxy agent for an automated bidding system, said bidding systems having a bid data store containing current bid level information for one or more auctions or offerings, said proxy agent comprising:
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a proxy bid parameter set having one or more proxy bid parameters, said proxy bid parameters indicating proxy conditions for at least one offering or auction to which proxy bidding is to be made;
a current bid level checker for checking at least one current bid level in said bid data store;
a proxy condition evaluator for determining if any of said proxy conditions have been met; and
a counter bid generator for placing a counter bid into at least one auction responsive to said proxy conditions being met. - View Dependent Claims (12, 13, 14, 15)
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Specification