SYSTEMS AND METHODS FOR IMPROVING THE LIQUIDITY AND DISTRIBUTION NETWORK FOR LUXURY AND OTHER ILLIQUID ITEMS

• US 20070130057A1
• Filed: 02/05/2007
• Published: 06/07/2007
• Est. Priority Date: 12/13/2001
• Status: Active Grant

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: Lutnick, Howard, Heaton, Timothy
• Granted Patent: US 7,729,949 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0275 Auctions
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items are provided. These systems and methods preferably include the trading of futures and options contracts, which will provide the liquidity and distribution network for luxury items. Possible embodiments of these systems and methods include the trading of futures and options contracts for diamonds and wine. Another embodiment of this invention preferably includes generating indexes for diamond prices, wine prices, luxury item prices, housing values, mortgage prepayments, privately-held companies or for anything with from sufficiently liquid points of value. Another embodiment of this invention preferably includes a centralized data base for retrieving closing and current auction prices for determining the value of, and best method for the auctioning of various items. The data provided by this data base would improve liquidity by creating greater price transparency.

Claims

1-120. -120. (canceled)

121. A method comprising:

capturing data from a plurality of completed auction for a plurality of items;

receiving a search request specifying at least one criterion for an item;

identifying from the plurality of items at least one item satisfying the at least one criterion;

receiving an instruction to compute at least one user specified calculation for at least one item identified; and

determining the user specified calculation from at least a portion of the auction data corresponding to the at least one item identified.

122. The method of claim 121, wherein the at least one user specified calculation comprises an average price for the item.

123. The method of claim 121, wherein the at least one user specified calculation comprises a lowest price paid for the item.

124. The method of claim 121, wherein the at least one user specified calculation comprises a highest price paid for the item.

125. The method of claim 121, wherein the at least one user specified calculation comprises a mean or a median price for the item.

126. The method of claim 121, wherein the at least one user specified calculation is determined specific for a particular auction method.

127. The method of claim 121, wherein the at least one user specified calculation comprises a range of prices for the item.

128. The method of claim 121, comprising communicating the user specified calculation to at least one user.

129. The method of claim 128, comprising communicating a listing comprising at least one completed auction for the item to the at least one user.

130. The method of claim 129, comprising receiving an instruction to remove a completed auction selected from the listing and determining the user specified calculation from at least a portion of the auction data corresponding to the at least one item identified excluding the selected completed auction.

131. The method of claim 128, comprising communicating a listing comprising at least one pending auction for the item to the at least one user.

132. The method of claim 131, comprising causing an interface screen to be displayed comprising the user specified calculation and the listing comprising the at least one pending auction for the item.

133. The method of claim 121, wherein the data is captured from at least one Internet auction site.

134. A method comprising:

capturing data from a plurality of completed auction for a plurality of items;

receiving a search request specifying at least one criterion for an item;

identifying from the plurality of items at least one item satisfying the at least one criterion;

determining at least one calculation from at least a portion of the auction data corresponding to the at least one item identified;

communicating the at least one calculation and a listing comprising at least one pending auction for the item to at least one use.

135. The method of claim 134, wherein the calculation comprises at least one of an average price, a lowest price, a highest price, and a median price paid for the item.

136. The method of claim 134, comprising causing an interface screen to be displayed comprising the at least one calculation and the listing comprising the at least one pending auction for the item.

137. A system comprising at least one processor and a memory that stores a program that when executed enables the processor to perform a method comprising:

capturing data from a plurality of completed auction for a plurality of items;

receiving a search request specifying at least one criterion for an item;

identifying from the plurality of items at least one item satisfying the at least one criterion;

receiving an instruction to compute at least one user specified calculation for at least one item identified; and

determining the user specified calculation from at least a portion of the auction data corresponding to the at least one item identified.

138. The system of claim 137, wherein the at least one user specified calculation comprises an average price for the item.

139. The system of claim 137, wherein the at least one user specified calculation comprises a lowest price paid for the item.

140. The system of claim 137, wherein the at least one user specified calculation comprises a highest price paid for the item.

141. The system of claim 137, wherein the at least one user specified calculation comprises a mean or a median price for the item.

142. The system of claim 137, wherein the at least one user specified calculation is determined specific for a particular auction method.

143. The system of claim 137, wherein the at least one user specified calculation comprises a range of prices for the item.

144. The system of claim 137, the method comprising communicating the user specified calculation to at least one user.

145. The system of claim 144, the method comprising communicating a listing comprising at least one completed auction for the item to the at least one user.

146. The system of claim 145, the method comprising receiving an instruction to remove a completed auction selected from the listing and determining the user specified calculation from at least a portion of the auction data corresponding to the at least one item identified excluding the selected completed auction.

147. The system of claim 144, the method comprising communicating a listing comprising at least one pending auction for the item to the at least one user.

148. The system of claim 147, the method comprising causing an interface screen to be displayed comprising the user specified calculation and the listing comprising the at least one pending auction for the item.

149. The system of claim 137, wherein the data is captured from at least one Internet auction site.

150. A system comprising at least one processor and a memory that stores a program that when executed enables the processor to perform a method comprising:

capturing data from a plurality of completed auction for a plurality of items;

receiving a search request specifying at least one criterion for an item;

identifying from the plurality of items at least one item satisfying the at least one criterion;

determining at least one calculation from at least a portion of the auction data corresponding to the at least one item identified;

communicating the at least one calculation and a listing comprising at least one pending auction for the item to at least one use.

151. The system of claim 150, wherein the calculation comprises at least one of an average price, a lowest price, a highest price, and a median price paid for the item.

152. The system of claim 150, the method comprising causing an interface screen to be displayed comprising the at least one calculation and the listing comprising the at least one pending auction for the item.