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Random drawing auction system and method based on entrance fee profit model

  • US 20070124229A1
  • Filed: 10/14/2004
  • Published: 05/31/2007
  • Est. Priority Date: 02/07/2004
  • Status: Abandoned Application
First Claim
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1. A random drawing auction system based on an entrance fee profit model, comprising:

  • a database unit storing auction condition information comprising an open market selling price, auction quantity, auction duration, an initial entrance fee and an entrance fee type of an item auctioned through Internet, bid history information of a buyer wishing to purchase the item through the Internet, and bid details information of the item;

    an item registration unit allowing a seller to register auction condition information of an item or directly register the auction condition information and posting the item and the auction condition information to a web site when an auction start time of the registered item is encountered;

    a bid qualification determiner determining whether a buyer is qualified for bidding for an item based on the buyer'"'"'s bid history information in response to the buyer'"'"'s request for permission to bid for the item;

    a bid execution unit requesting the buyer to pay an initial entrance fee of an item when a buyer is determined as being qualified for bidding for the item, collecting an initial entrance fee of the item from the buyer, requesting the buyer to set a tender price for the item, and inputting the tender price;

    a bid terminator determining whether to terminate a bid for an item based on at least one among auction duration of the item, for which the bid is being executed by the bid execution unit, and an accumulated entrance fee resulting from the bid of each of buyers for the item;

    a successful bidder selector calculating a reference contract price using a minimum contract price and a maximum contract price of an item and a random number induced by a random probability function after a bid for the item is terminated, comparing the reference contract price with a tender price set by each of buyers, and selecting as a successful bidder a buyer that has set a tender price closest to the reference contract price or close in a predetermined sequence to the reference contract price; and

    a delivery/payment processor collecting a tender price set by a buyer selected as a successful bidder, performing a process to deliver an item to the successful bidder, and giving a sales payment to a seller of the item.

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