Incentive points redemption program carried out via an on-line auction

• US 20070118461A1
• Filed: 12/15/2006
• Published: 05/24/2007
• Est. Priority Date: 10/08/1999
• Status: Active Grant

• Current Assignee: Hinda, Inc. (Engage2Excel, Inc.)
• Original Assignee: Hinda, Inc. (Engage2Excel, Inc.)
• Inventors: Arkes, Michael
• Granted Patent: US 8,458,048 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• 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

An incentives points-based on-line auction method is presented that is based upon an on-line system including a catalog of potential auction items and a database of participants that are eligible to take part in the auction and the participants'"'"' associated eligible points. The method includes designating a set of auction items from the catalog of potential auction items. Thereafter, participants submit bids via on-line access for the set of auction items. The auction facilities initially prompt a participant to logon to gain access to the auction. Authorized, logged on participants are then provided access to a database describing the auction items and current bid information. A participant may bid upon an auction item. In response, to receiving a bid from a participant, the auction facilities determine whether the participant has sufficient points in a point bank to submit the bid. Proper new high bids are registered by the auction facilities. At the close of a period for an auction, the auction facilities notify the high bidders of their successful bids for particular auction items.

Claims

1. A method for administering an on-line auction, comprising the steps of:

designating at least one auction item for an on-line auction;

providing on-line bid access to said at least one auction item by at least one authorized participant;

receiving, via an on-line computer interface, at least one respective incentive points bid by said at least one authorized participant for the auction item;

determining that each respective incentive points bid made by a respective authorized participant does not exceed an incentive points total available to that respective authorized participant;

maintaining at least a respective high incentive points bid for each respective auction item; and

identifying, upon ending an auction period for a said auction item, one said authorized participant who submitted a highest incentive points bid for that auction item.

2. A method as claimed in claim 1, wherein:

the designating step designates a plurality of auction items for an on-line auction;

the providing step provides on-line bid access to each of said auction items by at least one authorized participant;

the receiving step receives, via an on-line computer interface, at least one respective incentive points bid by said at least one authorized participant for at least one of the auction items;

the determining step determines that each respective incentive points bid made by a respective authorized participant does not exceed an incentive points total available to that respective authorized participant;

the maintaining step maintains at least a respective high incentive points bid for each respective auction item; and

the identifying step identifies, upon ending a respective auction period for each respective said auction item, a respective one of said authorized participants who submitted a respective highest incentive points bid for each of the respective auction items.

3. A method as claimed in claim 1, further comprising the steps of:

notifying an authorized participant bidding on a said auction item when a new high incentive points bid for that auction item exceeds the respective available incentive point value total for that authorized participant; and

enabling that notified authorized participant to obtain, through purchase, additional incentive points in accordance with a currency-to-points ratio.