System and method for commodity valuation based on online auction bid information

• US 20070078756A1
• Filed: 12/04/2006
• Published: 04/05/2007
• Est. Priority Date: 12/08/2000
• Status: Active Grant

• Current Assignee: Bernardo Huberman, Tad Hogg
• Original Assignee: Bernardo Huberman, Tad Hogg
• Inventors: Huberman, Bernardo, Hogg, Tad
• Granted Patent: US 7,647,271 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• 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 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system for determining latent demand for at least one of a plurality of commodities includes an offer analyzer and a commodity selector. The offer analyzer analyzes at least a plurality of initially unaccepted offers for each of the plurality of commodities. The commodity selector selects at least one of the plurality of commodities to offer for sale which satisfies at least one criteria based on the analysis by the offer analyzer.

Claims

1. A system for commodity valuation based on online auction bid information, comprising:

a criteria for valuation defined for each of a plurality of commodities; and

an offer processor, comprising;

a bid evaluator to evaluate auction bid information that has each been offered for one of the commodities while at auction online, to determine analyzed valuations following completion of the auction; and

a commodity identifier to identify each commodity that has an analyzed valuation that satisfies the criteria for valuation as defined for that commodity.

2. A system according to claim 1, further comprising:

a normalizer to determine the analyzed valuation as an average of the auction bid information of each of the commodities offered normalized over a number of the commodity.

3. A system according to claim 1, wherein the determination of the analyzed valuations is deferred until sufficient auction bid information becomes available for evaluation.

4. A system according to claim 1, further comprising:

a pricing processor to set a price for each of the commodities identified at which the commodity will be offered for sale.

5. A system according to claim 4, further comprising:

an averager to determine the price as an average of the auction bid information.

6. A system according to claim 1, wherein the auction bid information is chosen from the group comprising accepted bids and unaccepted bids.

7. A system according to claim 6, wherein the auction bid information having a highest value within the group for each of the commodities is chosen.

8. A system according to claim 1, wherein the criteria is specified for at least one of latent demand, potential demand, and sales volume.

9. A system according to claim 1, wherein the commodity is selected from the group comprising goods, service, and combination of goods and service.

10. A method for commodity valuation based on online auction bid information, comprising:

defining a criteria for valuation of each of a plurality of commodities;

evaluating auction bid information that has each been offered for one of the commodities while at auction online, to determine analyzed valuations following completion of the auction; and

identifying each commodity that has an analyzed valuation that satisfies the criteria for valuation as defined for that commodity.

11. A method according to claim 10, further comprising:

determining the analyzed valuation as an average of the auction bid information of each of the commodities offered normalized over a number of the commodity.

12. A method according to claim 10, further comprising:

deferring the determination of the analyzed valuations until sufficient auction bid information becomes available for evaluation.

13. A method according to claim 10, further comprising:

setting a price for each of the commodities identified at which the commodity will be offered for sale.

14. A method according to claim 13, further comprising:

determining the price as an average of the auction bid information.

15. A method according to claim 10, further comprising:

choosing the auction bid information from the group comprising accepted bids and unaccepted bids.

16. A method according to claim 15, further comprising:

choosing the auction bid information having a highest value within the group for each of the commodities.

17. A method according to claim 10, further comprising:

specifying the criteria for at least one of latent demand, potential demand, and sales volume.

18. A method according to claim 10, wherein the commodity is selected from the group comprising goods, service, and combination of goods and service.

19. A computer-readable storage medium holding code for performing the method according to claim 10.

20. A computer-readable storage medium holding code for commodity valuation based on online auction bid information, comprising:

a stored criteria defined for valuation of each of a plurality of commodities;

code for evaluating auction bid information that has each been offered for one of the commodities while at auction online, to determine analyzed valuations following completion of the auction; and

code for identifying each commodity that has an analyzed valuation that satisfies the criteria for valuation as defined for that commodity.