Data Processing System That Provides An Auction With Programmable Proxy Bids

• US 20080021812A1
• Filed: 10/01/2007
• Published: 01/24/2008
• Est. Priority Date: 08/23/2000
• Status: Abandoned Application

• Current Assignee: Demont Srl
• Original Assignee: Demont Srl
• Inventors: Gologorsky, Steven, Parlato, Brian
• Application Number:
  US11/865,564
• Publication Number:
  US 20080021812A1
• Time in Patent Office: Days
• US Class Current: 705/37
• 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

Abstract

In the context of computer-based auctions, innovations in proxy bids and auction formats are disclosed. In accordance with the illustrative embodiment, a bidder can program a data processing system to enter one or more bids by proxy. The capabilities offered by the data processing system include: determining one or more bid variables based, at least in part, on the identity of one or more bidders in an auction, or determining one or more bid variables based, at least in part, on the absence of one or more bidders from an auction, or determining one or more bid variables based, at least in part, on the bid variables in one or more other bids, or determining one or more bid variables based, at least in part, on the results of another auction, or determining one or more bid variables based, at least in part, on default values, or waiting a specific or random amount of time before entering a bid in behalf of a bidder, or any combination of these.

Claims

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

receiving, at the data processing system, a bid package from a first bidder, wherein the bid package directs the data processing system to;

(i) prepare a first bid for the first bidder that is less advantageous to the auction solicitor than a second bid entered into the auction in behalf of the second bidder, and

(ii) enter the first bid into the auction in behalf of the first bidder;

entering, at the data processing system, the second bid into the auction in behalf of the second bidder;

preparing, at the data processing system, the first bid, wherein the first bid is less advantageous to the auction solicitor than the second bid; and

entering, at the data processing system, the first bid into the auction in behalf of the first bidder.

2. The method of claim 1 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is more advantageous to the auction solicitor than the second bid variable.

3. The method of claim 1 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is less advantageous to the auction solicitor than the second bid variable.

4. The method of claim 1 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is equally advantageous to the auction solicitor than the second bid variable.

5. The method of claim 1 wherein the first bid is based, at least in part, on the identity of the second bidder.

6. The method of claim 1 wherein the first bid is based, at least in part, on the absence of a third bidder from the auction.

7. The method of claim 1 wherein the first bid is based, at least in part, on the results of another auction.

8. A method of conducting an auction in behalf of an auction solicitor, the method comprising:

entering, at a data processing system, a first bid into the auction in behalf of a first bidder, wherein the first bid comprises a first bid variable;

receiving, at the data processing system, a bid package from a second bidder directing the data processing system to prepare a second bid based, at least in part, on a second bid variable which is itself based, at least in part, on the first bid variable and such that the second bid variable is less advantageous to the auction solicitor than the first bid variable; and

entering, at the data processing system, the second bid into the auction in behalf of the second bidder, wherein the second bid comprises the second bid variable as prepared by the data processing system.

9. The method of claim 8 further comprising refraining, at the data processing system, from disclosing the first bid variable to the second bidder until at least after the second bid has been entered into the auction.

10. The method of claim 8 wherein the second bid is based, at least in part, on the identity of the first bidder.

11. The method of claim 8 wherein the second bid is based, at least in part, on the absence of a third bidder from the auction.

12. The method of claim 8 wherein the second bid is based, at least in part, on the results of another auction.

13. A method of conducting an auction in behalf of an auction solicitor, the method comprising in order:

(1) receiving, at the data processing system, a bid package from a first bidder to prepare a first bid after a second bid has been entered into the auction, wherein the first bid is to be less advantageous to the auction solicitor than the second bid;

(2) entering, at the data processing system, the second bid into the auction in behalf of the second bidder;

(3) preparing, at the data processing system, the first bid, wherein the first bid is less advantageous to the auction solicitor than the second bid; and

(4) entering, at the data processing system, the first bid into the auction in behalf of the first bidder.

14. The method of claim 13 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is more advantageous to the auction solicitor than the second bid variable.

15. The method of claim 13 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is less advantageous to the auction solicitor than the second bid variable.

16. The method of claim 13 wherein the first bid comprises a first bid variable and the second bid comprises a second bid variable, and

wherein the first bid variable is equally advantageous to the auction solicitor than the second bid variable.

17. The method of claim 13 wherein the first bid is based, at least in part, on the identity of the second bidder.

18. The method of claim 13 wherein the first bid is based, at least in part, on the absence of a third bidder from the auction.

19. The method of claim 13 wherein the first bid is based, at least in part, on the results of another auction.