Bid positioning system

• US 20050091149A1
• Filed: 11/23/2004
• Published: 04/28/2005
• Est. Priority Date: 12/23/1999
• Status: Active Grant

• Current Assignee: Gregg Borgeson, Robert Gordon Wilson
• Original Assignee: Gregg Borgeson, Robert Gordon Wilson
• Inventors: Borgeson, Gregg, Wilson, Robert Gordon
• Granted Patent: US 7,644,020 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

The invention relates to both a method and a computer system that are designed to provide a bid positioning system using a computerized bid proxy. The bid proxy takes instructions from the bidder and then bids based upon these instructions. Using a bid positioning system allows this bidder to place its bids in relation to a lead bid placed by another bidder in an auction based upon either a nominal or percentage distance from the lead bid. In a preferred embodiment, this computerized bid proxy is used in a shipment management system. This system allows a shipper to present at least one shipping requirement for a particular shipment to a centralized server. These shipping requirements could include the origin and destination of a shipment, the time or delivery date of a shipment, the number of articles being shipped, and the weight or volume of the shipment. The server next sends the at least one shipping requirement to a plurality of carriers some of whom are chosen by the shipper and some of whom are chosen by the system. These carriers next bid based upon the at least one shipping requirement. This system and method also allows these carriers to re-quote their bids based upon the bids presented by the other carriers. Once all of the bid deadline has been reached, the shipper picks the quote that best suits the shipper.

Claims

1. A method for establishing a bid proxy—

for a plurality of bidders in a computerized auction, over a computer network comprising the steps of;

a) receiving at least one bid from each of the plurality of bidders over the computer network;

b) receiving at least one bid limit from each of the plurality of bidders over the computer network;

c) receiving at least one bid position from each of the plurality of bidders over the computer network;

d) selecting a lead bid from said at least one bid placed by each of the plurality of bidders;

e) calculating a re-bid for each of said at least one bid placed by each of the plurality of bidders by positioning said re-bid based upon the bid position in relation to said lead bid; and

f) selectively replacing said at least one bid for each of the plurality of bidders with said re-bid.

2. The method as claimed in claim 1, wherein said step of selecting said lead bid includes selecting a highest bid placed by the plurality of bidders.

3. The method as claimed in claim 1, wherein said step of selecting said lead bid includes selecting a lowest bid placed by the plurality of bidders.

4. The method as claimed in claim 1, wherein said step of receiving at least one bid position includes receiving a nominal monetary spread from said lead bid.

5. The method as claimed in claim 1, wherein said step of receiving at least one bid position includes receiving a percentage relationship with said lead bid.

6. The method as claimed in claim 1, wherein said step of calculating a re-bid includes increasing the bid of at least one of the plurality of bidders.

7. The method as claimed in claim 1, wherein said step of calculating a re-bid includes decreasing the bid of at least one of the plurality of bidders.

8. The method as claimed in claim 1, wherein the step of receiving at least one bid limit includes receiving a bid ceiling so that during the auction, the bid proxy sets said re-bid at said bid ceiling when said bid position calculates a bid higher than said bid ceiling.

9. The method as claimed in claim 1, wherein the step of receiving at least one bid limit includes receiving a bid floor so that during the computerized auction, the bid proxy sets said re-bid at said bid floor when said bid position calculates a bid lower than said bid floor.

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35. A computer program product for use with a machine over a computer network, said program product comprising:

a) a computer usable medium having computer readable program code means embodied in said medium for causing a computer to receive at least one bid from the at least one bidder over a computer network;

b) machine readable program code means for causing said computer to receive at least one bid position from the at least one bidder over said computer network based upon at least one lead bid;

c) machine readable program code means for causing said computer to receive a plurality of bids from a plurality of bidders over said computer network;

d) machine readable program code means for causing said computer to calculate a bid for said bidder having the bid proxy based upon said received lead bid and said received bid position; and

e) machine readable program code means for causing said computer to reset a bid placed by the at least one bidder having the bid proxy automatically, based upon said bid position in relation to said lead bid.