Auction bidding method
First Claim
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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.
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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.
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Citations
30 Claims
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1. A computer-implemented method for processing auction bids, comprising:
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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. - View Dependent Claims (2, 3, 26)
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4. A computer-implemented method for processing auction bids, comprising:
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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. - View Dependent Claims (5, 6, 7, 8, 9, 27, 28)
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10. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:
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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. - View Dependent Claims (11)
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12. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:
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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. - View Dependent Claims (13, 14, 15, 16, 17, 29, 30)
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18. A server, comprising a microprocessor, a memory, and an input/output section, wherein the microprocessor implements a set of preprogrammed instructions to:
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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. - View Dependent Claims (19, 20, 21, 22, 23)
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24. A computer-implemented method for processing auction bids, comprising:
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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.
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25. A computer-readable medium containing a set of instructions to perform operations when executed, comprising:
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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.
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Specification