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Method and device for carrying out an electronic auction in a communications network

  • US 20040039680A1
  • Filed: 09/10/2003
  • Published: 02/26/2004
  • Est. Priority Date: 09/04/2000
  • Status: Abandoned Application
First Claim
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1. A method for carrying out an electronic online auction between a number of bidders and one buyer for the procurement of a product needed by the buyer over a communications network having the following steps:

  • selecting a number of bidders who are able to make the product available, notifying the bidders concerning the time, the permissible time period of the auction provided and the online auction room of the auction, carrying out the auction at the specified point in time, each bidder being able to make his bids during the permissible time period which is formed by the specified first time duration, each bidder having indicated to him at least the lowest bid of the competitors in an anonymous form and the remaining auction time, and for comparison of the bids of the individual bidders, online, for each bid, a comparison quantity overall costs is calculated as a function of the particular price and of further suitable criteria, wherein the permissible time duration of the auction is extended before its expiration by an extension interval, so that a new permissible time duration comes about.

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