Auction bidding method

• US 20070226118A1
• Filed: 04/08/2002
• Published: 09/27/2007
• Est. Priority Date: 04/30/2001
• Status: Active Grant

• Current Assignee: Andrew Gill
• Original Assignee: Andrew Gill
• Inventors: Gill, Andrew
• Granted Patent: US 8,533,095 B2
• 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

Systems and methods for a computer-implemented auction bidding process that assigns a winning bid quantity and a winning bid amount to each bid in an ordered list of bids by a single resolution of the ordered bid list based on the maximum amount the bidder is willing to pay for the offered item(s). The bid list is ordered by one or more criteria, including the maximum amount to which the submitted bid may be increased via an autobid feature, and resolution of the bid list considers these criteria in assigning bid quantities and bid amounts to each bid.

Claims

1. A computer-implemented method for processing auction bids, comprising:

electronically storing data corresponding to each of a plurality of currently pending bids for an auction;

generating, via a computer system, an ordered bid list by ordering the plurality of currently pending bids by at least one criteria, the at least one criteria comprising one or more of;

a maximum amount to which a currently pending bid using an optional automatic bidding feature may be increased via the optional automatic bidding feature, and

a static amount for a currently pending bid not using the optional automatic bidding feature; and

performing a bid resolution process on the computer system, the bid resolution process comprising assigning a winning bid quantity and a winning bid amount to each bid in the ordered bid list based on the at least one criteria.

2. A computer-implemented method as defined in claim 1 wherein each of the plurality of currently pending bid bids comprises a bid amount based on the at least one criteria, and a bid timestamp;

and

wherein the ordered bid list comprises each currently pending bid ordered from a first currently pending bid having a highest bid amount to a last currently pending bid having a lowest bid amount.

3. A computer-implemented method as defined in claim 2 wherein the ordered bid list further comprises two or more currently pending bids with an identical bid amount, and wherein the two or more currently pending bids with an identical bid amount are ordered from a first bid with an identical bid amount having an earliest timestamp to a last bid with an identical bid amount having a latest timestamp.

26. A computer-implemented method as defined in claim 1 wherein the bid resolution process comprises a single resolution of the ordered bid list.

4. A computer-implemented method for processing auction bids, comprising:

electronically storing data corresponding to a submitted bid;

validating the bid;

electronically timestamping the bid;

adding the bid to a bid list;

generating an ordered bid list by ordering each bid in the bid list based on at least one criteria, the at least one criteria comprising one or more of;

if the bid uses an optional automatic bidding feature, a maximum amount to which the bid may be increased via the optional automatic bidding feature, and

if the bid does not use the optional automatic bidding feature, a static amount for the bid; and

resolving the ordered bid list, wherein resolving the ordered bid list comprises assigning a winning bid quantity and a winning bid amount to each bid in the ordered bid list based on the at least one criteria.

5. A computer-implemented method as defined in claim 4, wherein validating the submitted bid comprises:

receiving a bid, wherein the bid comprises a bid amount and a bid quantity;

ascertaining whether the bid amount and the bid quantity conform to a plurality of conditions set by an offer initialization, comprising a minimum bid amount, and a minimum bid quantity; and

if at least one of the bid amount and the bid quantity does not conform to one or more of the plurality of conditions, rejecting the bid and generating a notice that the bid is invalid.

6. A computer-implemented method as defined in claim 4, wherein electronically timestamping the bid comprises:

ascertaining whether the bid is a replacement bid for a previous bid;

if the bid is not a replacement bid, timestamping the bid with a current computer-generated timestamp; and

if the bid is a replacement bid, identifying one or more timestamping conditions set by an offer initialization, and electronically timestamping the bid with the current timestamp or a timestamp of the previous bid in response to the timestamping conditions.

7. A computer-implemented method as defined in claim 4, wherein generating an ordered bid list comprises:

ordering each bid in the bid list from a first bid having a highest bid amount to a last bid having a lowest bid amount; and

if two or more bids in the bid list have an identical bid amount, ordering the two or more bids from a first identical bid having an earliest timestamp to a last identical bid having a latest timestamp.

8. A computer-implemented method as defined in claim 4, wherein assigning a winning bid quantity to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid quantity;

(b) comparing the bid quantity with an available quantity;

(c) if the bid quantity is greater than the available quantity, determining whether the bid will accept less than the bid quantity;

(d) assigning a winning bid quantity to the bid;

(e) if the winning bid quantity is less than the bid quantity, determining whether the bid is a first losing bid, and if the bid is the first losing bid, designating the bid as the first losing bid;

(f) reducing the available quantity by the winning bid quantity; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

9. A computer-implemented method as defined in claim 4, wherein assigning a winning bid amount to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid timestamp;

(b) identifying an automatic bidding feature condition of the bid;

(c) if the automatic bidding feature condition is active, identifying whether a first losing bid has been designated;

(d) if the first losing bid has been designated, identifying a timestamp advantage feature condition set by an offer initialization;

(e) if the timestamp advantage feature is active, comparing the bid timestamp with a bid timestamp of the first losing bid;

(f) assigning a winning bid amount to the bid; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

27. A computer-implemented method as defined in claim 4, wherein resolving the ordered bid list comprises assigning the winning bid quantity and the winning bid amount in a single resolution of the bid list.

28. A computer-implemented method as defined in claim 4, wherein validating the submitted bid comprises:

receiving a bid, wherein the bid comprises a bid amount; and

ascertaining whether the bid amount is equal to the sum of a minimum bid amount and a non-negative integer multiple of a bid increment.

10. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:

generating an ordered bid list by ordering a plurality of currently pending bids comprising bids using an optional automatic bidding feature and bids not using the optional automatic bidding feature; and

assigning, in a single resolution of the ordered bid list, a winning bid quantity and a winning bid amount to each bid in the ordered bid list based on;

maximum amounts to which the bids using the optional automatic bidding feature may be increased, and

static amounts for the bids not using the optional automatic bidding feature.

11. A computer-readable medium as defined in claim 10, wherein generating the ordered bid list comprises:

identifying a bid amount for each currently pending bid based on the at least one criteria; and

ordering each currently pending bid from a first bid having a highest bid amount to a last bid having a lowest bid amount, and if two or more bids have an identical bid amount, ordering the two or more bids from a first identical bid having an earliest timestamp to a last identical bid having a latest timestamp.

12. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:

validating a submitted bid;

timestamping the bid;

adding the bid to a bid list;

generating an ordered bid list by ordering each bid in the bid list based on at least one criteria, the at least one criteria comprising one or more of;

if the bid uses an optional automatic bidding feature, a maximum amount to which the bid may be increased via the optional automatic bidding feature, and

if the bid does not use the optional automatic bidding feature, a static amount for the bid; and

resolving the ordered bid list, wherein resolving the ordered bid list comprises assigning a winning bid quantity and a winning bid amount to each bid in the ordered bid list based on the at least one criteria.

13. A computer-readable medium as defined in claim 12, wherein validating the submitted bid comprises:

receiving a bid, wherein the bid comprises a bid amount and a bid quantity;

ascertaining whether the bid amount and the bid quantity conform to a plurality of conditions set by an offer initialization, comprising a minimum bid amount, and a minimum bid quantity; and

if at least one of the bid amount and bid quantity does not conform to one or more of the plurality of conditions, rejecting the bid and generating a notice that the bid is invalid.

14. A computer-readable medium as defined in claim 12, wherein timestamping the bid comprises:

ascertaining whether the bid is a replacement bid for a previous bid;

if the bid is not a replacement bid, timestamping the bid with a current timestamp; and

if the bid is a replacement bid, identifying one or more timestamping conditions set by an offer initialization, and timestamping the bid with the current timestamp or a timestamp of the previous bid in response to the timestamping conditions.

15. A computer-readable medium as defined in claim 12, wherein generating an ordered bid list comprises:

ordering each bid in the bid list from a first bid having a highest bid amount to a last bid having a lowest bid amount; and

if two or more bids in the bid list have an identical bid amount, ordering the two or more bids from a first identical bid having an earliest timestamp to a last identical bid having a latest timestamp.

16. A computer-readable medium as defined in claim 12, wherein assigning a winning bid quantity to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid quantity;

(b) comparing the bid quantity with an available quantity;

(c) if the bid quantity is greater than the available quantity, determining whether the bid will accept less than the bid quantity;

(d) assigning a winning bid quantity to the bid;

(e) if the winning bid quantity is less than the bid quantity, determining whether the bid is a first losing bid, and if the bid is the first losing bid, designating the bid as the first losing bid;

(f) reducing the available quantity by the winning bid quantity; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

17. A computer-readable medium as defined in claim 12, wherein assigning a winning amount to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid timestamp;

(b) identifying an automatic bidding feature condition of the bid;

(c) if the automatic bidding feature condition is active, identifying whether a first losing bid has been designated;

(d) if the first losing bid has been designated, identifying a timestamp advantage feature condition set by an offer initialization;

(e) if the timestamp advantage feature is active, comparing the bid timestamp with a bid timestamp of the first losing bid;

(f) assigning a winning bid amount to the bid; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

29. A computer-readable medium as defined in claim 12, wherein resolving the ordered bid list comprises assigning the winning bid quantity and the winning bid amount in a single resolution of the bid list.

30. A computer-readable medium as defined in claim 12, wherein validating the submitted bid comprises:

receiving a bid, wherein the bid comprises a bid amount; and

ascertaining whether the bid amount is equal to the sum of a minimum bid amount and a non-negative integer multiple of a bid increment.

18. A server, comprising a microprocessor, a memory, and an input/output section, wherein the microprocessor implements a set of preprogrammed instructions to:

receive a bid via the input/output section, wherein the bid comprises a bid quantity, a bid amount, and an optional automatic bidding feature condition;

validate the bid;

timestamp the bid;

add the bid to a bid list stored in the memory;

generate an ordered bid list;

resolve the bid list, wherein resolving the bid list comprises determining whether the optional automatic bidding feature condition was selected for each bid in the ordered bid list and assigning, in a single resolution of the bid list, a winning bid quantity and a winning bid amount to each bid in the ordered bid list based on the bid amount, an available quantity of offered items and the optional automatic bidding feature condition; and

communicate the winning bid quantity and the winning bid amount being via the input/output section.

19. A server as defined in claim 18, wherein validating the bid comprises:

ascertaining whether the bid amount and the bid quantity conform to a plurality of conditions set by an offer initialization, comprising a minimum bid amount, and a minimum bid quantity; and

if the bid amount or the bid quantity does not conform to one or more of the plurality of conditions, rejecting the bid and generating a notice that the bid is invalid.

20. A server as defined in claim 18, wherein timestamping the bid comprises:

ascertaining whether the bid is a replacement bid for a previous bid;

if the bid is not a replacement bid, timestamping the bid with a current timestamp; and

if the bid is a replacement bid, identifying one or more timestamping conditions set by an offer initialization, and timestamping the bid with the current timestamp or a timestamp of the previous bid in response to the timestamping conditions.

21. A server as defined in claim 18, wherein generating an ordered bid list comprises:

ordering each bid in the bid list from a first bid having a highest bid amount to a last bid having a lowest bid amount; and

if two or more bids in the bid list have an identical bid amount, ordering the two or more bids from a first identical bid having an earliest timestamp to a last identical bid having a latest timestamp.

22. A server as defined in claim 18, wherein assigning a winning bid quantity to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid quantity;

(b) comparing the bid quantity with an available quantity;

(c) if the bid quantity is greater than the available quantity, determining whether the bid will accept less than the bid quantity;

(d) assigning a winning bid quantity to the bid;

(e) if the winning bid quantity is less than the bid quantity, determining whether the bid is a first losing bid, and if the bid is the first losing bid, designating the bid as the first losing bid;

(f) reducing the available quantity by the winning bid quantity; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

23. A server as defined in claim 18, wherein assigning a winning bid amount to each bid in the ordered bid list comprises:

(a) selecting a bid from the ordered bid list, wherein the bid comprises a bid timestamp;

(b) identifying the automatic bidding feature condition of bid;

(c) if the automatic bidding feature condition is active, identifying whether a first losing bid has been designated;

(d) if the first losing bid has been designated, identifying a timestamp advantage feature condition set by an offer initialization;

(e) if the timestamp advantage feature is active, comparing the bid timestamp with a bid timestamp of the first losing bid;

(f) assigning a winning bid amount to the bid; and

if additional bids remain in the ordered bid list, selecting the next bid from the ordered bid list and repeating steps (a)-(f).

24. A computer-implemented method for processing auction bids, comprising:

generating an ordered bid list by ordering a plurality of currently pending bids by at least one criteria, the at least one criteria comprising one or more of;

for each currently pending bid using an optional automatic bidding feature, a maximum amount to which the bid may be increased via the optional automatic bidding feature, and

for each currently pending bid not using the optional automatic bidding feature, a static amount for the bid; and

assigning, in a single resolution of the ordered bid list;

a winning bid quantity to each bid in the ordered bid list based on the at least one criteria, and an automatic bidding feature setting, wherein if the bid will not accept less than a bid quantity, the winning bid quantity is assigned equal to zero, and a determination is made whether the bid drove up bidding, and

a winning bid amount to each bid in the ordered bid list based on at least the automatic bidding feature setting.

25. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:

generating an ordered bid list by ordering a plurality of currently pending bids by at least one criteria, the at least one criteria comprising one or more of;

for each currently pending bid using an optional automatic bidding feature, a maximum amount to which the bid may be increased via the optional automatic bidding feature, and

for each currently pending bid not using the optional automatic bidding feature, a static amount for the bid; and

assigning, in a single resolution of the ordered bid list;

a winning bid quantity to each bid in the ordered bid list based on at the least one criteria, and an automatic bidding feature setting, wherein if the bid will not accept less than a bid quantity, the winning bid quantity is assigned equal to zero, and a determination is made whether the bid drove up bidding, and

a winning bid amount to each bid in the ordered bid list based on at least the automatic bidding feature setting.