Method and apparatus for selling a plurality of units

• US 20030229565A1
• Filed: 07/23/2002
• Published: 12/11/2003
• Est. Priority Date: 06/06/2002
• Status: Abandoned Application

• Current Assignee: Trading Parts Limited
• Original Assignee: Trading Parts Limited
• Inventors: Shah, Chirag, Houghton, Rob, Reddi, Sirish
• Application Number:
  US10/202,614
• Publication Number:
  US 20030229565A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Method and apparatus for facilitating a sales transaction between one or more sellers and potential buyers in relation to large numbers of similar units. A seller offers the units to buyers, starting at an initial price. The potential buyers make offers to buy a given number of units at that price. The price is incrementally reduced, with buyers being given the opportunity to bid with each reduction. In other embodiments, the buyer makes an offer to multiple sellers at a given price, specifying the number of units the buyer wants. Sellers offer to fulfil some or the entire offer, and the buyer subsequently reduces the price and makes additional offers until the buyer'"'"'s requirements are met.

Claims

1. A method of using a computer to facilitate a sales transaction between one or more sellers and potential buyers in relation to a plurality of similar units, the method comprising the steps of:

(a) displaying an initial price per unit to the buyers;

(b) periodically and monotonically altering the price per unit and displaying it to the buyers;

(c) accepting from each of one or more of the buyers an offer to buy one or more of the units at the initial or any of the subsequent prices per unit, each offer being indicative of a number of units to be purchased at the price per unit that is current when that offer is submitted.

2. A method according to claim 1, wherein step (c) includes accepting offers from a plurality of the buyers at a given price.

3. A method according to claim 1, wherein step (b) comprises monotonically decreasing the price per unit.

4. A method according to claim 2, wherein step (c) is performed by the seller at a rate that changes based on a rate at which offers are received from the buyers.

5. A method according to claim 4, wherein, in the event the seller has received offers to buy a number of units that falls outside a predetermined band of numbers of units for a given price, the rate at which the price is altered in step (c) is changed.

6. A method according to claim 1, including the step of registering the buyers with the computer prior to allowing them to place an offer to purchase one or more of the units.

7. A method according to claim 6, wherein registering of a buyer includes determining account details for the buyer, such that the payment for units can be taken by the seller once an offer by a buyer has been made and accepted.

8. A method according to claim 1, further including the step of:

accepting one or more proxy bids, each proxy bid including at least one proxy price per unit and a number of units at that price; and

accepting the offer for the number of units associated with each price once that price is reached.

9. A method according to claim 8, wherein the proxy bid is executed only if the number of units associated with the proxy price is still available.

10. A method according to claim 1, wherein steps (a) and (b) include displaying to the buyers a minimum acceptable number of units for which buyers must bid, for at least some of the displayed prices.

11. A method of using a computer to facilitate a sales transaction between a buyer and at least one potential seller in relation to a plurality of similar units, the method comprising the steps of, in the computer:

(a) receiving a first offer from a buyer, the offer being indicative of a number of units the buyer wishes to purchase and the price per unit the buyer is willing to pay;

(b) presenting the offer to a plurality of sellers of the units;

(c) receiving from each of the sellers an indication of the numbers of units that seller is willing to sell at the price per unit in the offer;

(d) in the event the sellers offer, in aggregate, enough units to satisfy the number of units requested by the buyer, sending a message to the buyer confirming the sale of the units by respective sellers;

(e) in the event the sellers do not offer, in aggregate, enough units to satisfy the number of units requested by the buyer;

(i) accepting the units offered in aggregate by the sellers so far; and

(ii) accepting a further offer from the buyer, the offer being indicative of the number of units the buyer still wishes to purchase and a higher price per unit the buyer is willing to pay; and

(f) repeating steps (b) to (e).

12. A method according to claim 11, wherein steps (b) to (e) are repeated until:

the buyer is satisfied with the number of units accepted;

the buyer reaches a maximum price per unit;

or

a time limit for the transaction expires.

13. A method according to claim 11, wherein step (b) is performed at fixed and predetermined time intervals after the initial offer is made by the buyer.

14. A method according to claim 11, including the step of registering the buyer with the computer prior to allowing the initial offer to be placed, wherein registering of the buyer includes determining account details for the buyer, such that the payment for units can be provided to the successful sellers once an offer by a buyer has been made and accepted by one or more of the sellers.

15. Computer apparatus configured and programmed to facilitate a sales transaction between one or more sellers and potential buyers in relation to a plurality of similar units, the computer apparatus including:

(a) display means for displaying an initial price per unit to the buyers;

(b) means for periodically and monotonically altering the price per unit, and providing the altered price per unit to the display means for display to the buyers;

(c) means for accepting from each of one or more of the buyers an offer to buy one or more of the units at the initial or any of the subsequent prices per unit displayed to the buyers, each offer being indicative of a number of units to be purchased at the price per unit that is current when that offer is submitted.

16. Computer apparatus according to claim 15, wherein the means for accepting offers is configured to determine precedence of the buyers'"'"' offers at least partially on the basis of the chronological order in which they are received, such that earlier offers are accepted prior to later offers at that price.

17. Computer apparatus according to claim 15, wherein the means for accepting offers is configured to determine precedence of the buyers'"'"' offers at least partially on the basis of the number of units indicated by each of the offers, such that offers for larger numbers of units take precedence over offers for lower numbers of units at that price.

18. Computer apparatus according to claim 15, including means for registering the buyers prior to allowing them to place an offer to purchase one or more of the units, wherein registering of a buyer includes determining account details for the buyer, such that the payment for units can be taken by the seller once an offer by a buyer has been made and accepted.

19. Computer apparatus according to claim 15, further including means for logging the prices per unit and offers at the prices per unit.

20. Computer apparatus configured and programmed to facilitate a sales transaction between a buyer and at least one potential seller in relation to a plurality of similar units, computer apparatus including:

(a) means for receiving a first offer from a buyer, the offer being indicative of a number of units the buyer wishes to purchase and the price per unit the buyer is willing to pay;

(b) means for presenting the offer to a plurality of sellers of the units;

(c) means for receiving from each of the sellers an indication of the numbers of units that seller is willing to sell at the price per unit in the offer;

the computer apparatus being configured to;

(d) in the event the sellers offer, in aggregate, enough units to satisfy the number of units requested by the buyer, send a message to the buyer confirming the sale of the units by respective sellers;

(e) in the event the sellers do not offer, in aggregate, enough units to satisfy the number of units requested by the buyer;

(i) accept the units offered in aggregate by the sellers so far; and

(ii) accept a further offer from the buyer, the offer being indicative of the number of units the buyer still wishes to purchase and a higher price per unit the buyer is willing to pay;

(f) repeat the steps of offering and acceptance by the buyers and sellers.