Data Processing System That Provides An Auction With Programmable Proxy Bids
First Claim
1. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
- entering, at a data processing system, a first sealed bid in the sealed-bid auction in behalf of a first bidder;
entering, at the data processing system, a second sealed bid in the sealed-bid auction in behalf of a second bidder;
ranking, at the data processing system, the advantageousness of the first sealed bid and the second sealed bid to the auction solicitor;
outputting from the data processing system the ranking of the first sealed bid and the second sealed bid to the first bidder and to the second bidder;
withholding, at the data processing system, the contents of the first sealed bid from the second bidder until after the opportunity for the second bidder to submit a revised second bid into the sealed-bid auction has expired.
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Accused Products
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.
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Citations
10 Claims
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1. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
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entering, at a data processing system, a first sealed bid in the sealed-bid auction in behalf of a first bidder;
entering, at the data processing system, a second sealed bid in the sealed-bid auction in behalf of a second bidder;
ranking, at the data processing system, the advantageousness of the first sealed bid and the second sealed bid to the auction solicitor;
outputting from the data processing system the ranking of the first sealed bid and the second sealed bid to the first bidder and to the second bidder;
withholding, at the data processing system, the contents of the first sealed bid from the second bidder until after the opportunity for the second bidder to submit a revised second bid into the sealed-bid auction has expired. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method of conducting a sealed-bid auction in behalf of an auction solicitor, which sealed-bid auction comprises a bidding phase and a resolution phase, the method comprising:
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entering, at a data processing system and during the bidding phase, a first sealed bid into the sealed-bid auction in behalf of a first bidder;
entering, at the data processing system and during the bidding phase, a second sealed bid into the auction in behalf of a second bidder;
ranking, at the data processing system and during the bidding phase, the advantageousness of the first sealed bid and the second bid to the auction solicitor; and
outputting, from the data processing system and during the bidding phase, the ranking to the first bidder. - View Dependent Claims (8, 9, 10)
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Specification