Method and system for calculating bids in an auction

• US 20070192231A1
• Filed: 02/15/2006
• Published: 08/16/2007
• Est. Priority Date: 02/15/2006
• Status: Abandoned Application

• Current Assignee: Auction Answers, LLC, Rent2Buy America, LLC
• Original Assignee: Auction Answers, LLC
• Inventors: Farson, John
• Application Number:
  US11/354,887
• Publication Number:
  US 20070192231A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method of conducting an auction includes positioning a first processor capable of at least calculating bids, determining winning scenarios in an auction, and accepting bids in a location in which the auction is being conducted. The method further includes positioning at least one bid query processor capable of at least calculating bids and determining winning bid scenarios in a location that is accessible to bidders and apart from the first processor. The first processor and the bid processor are preferably in electronic communication with one another such that the bid query processor is capable of accessing information stored in the first processor and determining new winning scenarios based on the information stored. The method further includes providing at least one bidder access to the at least one bid query processor such that the at least one bidder may determine a winning bid query before placing a bid, and accepting bids at the first processor.

Claims

1. A method of conducting an auction, the method comprising:

positioning a first processor capable of at least calculating bids, determining winning scenarios in an auction, and accepting bids in a location in which the auction is being conducted;

positioning at least one bid query processor capable of at least calculating bids and determining winning bid scenarios in a location that is accessible to bidders and apart from the first processor;

wherein said first processor and said at least one bid query processor are in electronic communication with one another such that the bid query processor is capable of accessing information stored in the first processor and determining new winning scenarios based on the information stored;

providing at least one bidder access to the at least one bid query processor such that the at least one bidder may determine a winning bid query before placing a bid; and

accepting bids at the first processor.

2. A method of conducting an auction according to claim 1, wherein the auction is a combinatorial auction.

3. A method of conducting an auction according to claim 1, wherein the step of accepting bids at the first processor further comprises accepting bids at the at least one bid query processor.

4. A method of conducting an auction according to claim 1, wherein the step of positioning at least one bid query processor comprises positioning more than one bid query processor.

5. A method of conducting an auction according to claim 1, wherein the first processor and the at least one bid query processor are physically connected.

6. A method of conducting an auction according to claim 1, wherein the first processor and the at least one bid query processor are connected via a wireless connection.

7. A method of conducting an auction according to claim 1, wherein the step of providing at least one bidder access to the at least one bid query processor comprises utilizing a bidding assistant to aid the at least one bidder.

8. A method of conducting an auction according to claim 1, wherein a bidder enters a bid into said first processor.

9. A method of conducting an auction according to claim 1, wherein a bidding assistant enters bids into said first processor.

10. A method of conducting an auction according to claim 1, wherein the first processor and the bid query processor are capable of calculating price per unit information in a winning scenario.

11. A method of conducting an auction according to claim 1, wherein said first processor and said bid query processor are capable of calculating the number of units in a winning scenario.

12. A method of conducting an auction according to claim 1, wherein the bid query processor is a hand-held computing device.

13. A method of conducting an auction according to claim 12, wherein the hand-held computing device is a personal data assistant (PDA).

14. A method of conducting an auction according to claim 1, wherein the bid query processor is a laptop computer.

15. A method of conducting an auction according to claim 1, wherein the bid query processor is a desktop-style computer.

16. A system for efficiently calculating a new winning bid in a combinatorial auction, the system comprising:

a first processor for accepting bids and conducting the combinatorial auction;

at least one bid query processor, in a location remote from said first processor, for calculating winning scenarios;

said first processor and said bid query processor being in electronic communication with one another;

wherein information regarding the progress of the auction is stored on said first processor; and

said bid query processor is capable of accessing said information stored on said first processor to calculate said winning scenarios.

17. A system according to claim 16, wherein said first processor is physically connected to said bid query processor.

18. A system according to claim 16, wherein said first processor and said bid query processor are in wireless communication.

19. A system according to claim 16, further comprising at least one additional bid query processor.

20. A system according to claim 16, wherein said bid query processor comprises a handheld computing device.

21. A system according to claim 20, wherein said handheld computing device comprises a personal data assistant (PDA).

22. A system according to claim 16, wherein said bid query processor comprises a laptop computer.

23. A system according to claim 16, wherein said bid query processor comprises a desktop style computer.

24. A system according to claim 16, wherein said bid query processor is in the same room as said first processor.

25. A system according to claim 16, wherein said bid query processor is in a different room than said first processor.

26. A system according to claim 16, wherein said first processor and said bid query processor are in direct electronic communication.

27. A system according to claim 16, wherein said first processor and said bid query processor are in electronic communication over the internet.

28. A system according to claim 16 wherein said information includes one or more of the current winning scenario, past winning scenarios, the current price per unit, past prices per unit, the number of bidders, the number of bids, and the identity of bidders and potential bidders in the auction.

29. A method of conducting an auction comprising:

positioning an auctioneer at a first processor;

equipping at least one bidding assistant with a bid query processor in electronic communication with the first processor;

positioning the bidding assistant in a position remote from said first processor, wherein said bidding assistant utilizes the bid query processor to aid at least one potential bidder in determining a bid query that would place the bidder in a winning position; and

wherein the bidding assistant, after assisting the potential bidder in determining a bid query that would place the bidder in a winning position, determines whether the potential bidder would like to place a bid and assists the potential bidder in placing the bid.

30. A method according to claim 29, wherein the step of equipping at least one bidding assistant with a bid query processor comprises equipping at least one bidding assistant with a handheld computing device in electronic communication with the first processor.

31. A method according to claim 29, wherein the step of equipping at least one bidding assistant with a bid query processor comprises equipping at least one bidding assistant with a bid query processor in wired communication with the first processor.

32. A method according to claim 29, wherein the step of equipping at least one bidding assistant with a bid query processor comprises equipping at least one bidding assistant with a bid query processor in wireless communication with the first processor.

33. A method according to claim 29, wherein the step of positioning a bidding assistant in a position remote from the first processor comprises positioning the bidding assistant in the same room as the first processor.

34. A method according to claim 29, wherein the step of positioning a bidding assistant in a position remote from the first processor comprises positioning the bidding assistant in a different room than the first processor.

35. A method according to claim 29, wherein the step of assisting the potential bidder in placing a bid comprises placing the bid for the bidder to enable the bidder to maintain anonymity.

36. A method according to claim 29, wherein the step of assisting the potential bidder in placing a bid comprises placing a bid at the first processor.

37. A method according to claim 29, wherein the step of assisting the potential bidder in placing a bid comprises placing a bid at the bid query processor.