BIDDER-SIDE AUCTION DYNAMIC PRICING AGENT, SYSTEM, METHOD AND COMPUTER PROGRAM PRODUCT

• US 20080306862A1
• Filed: 08/04/2008
• Published: 12/11/2008
• Est. Priority Date: 09/27/2000
• Status: Active Grant

• Current Assignee: Lifeproxy LLC
• Original Assignee: Rob R. Montgomery
• Inventors: Montgomery, Rob R.
• Granted Patent: US 8,204,819 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

The present invention sets forth a system, method, and computer program product for automating an interaction between a buyer and an electronic, variable, dynamic pricing online auction service. The method can include receiving a registration of a buyer at an Internet enabled buyer bidding site, a portfolio, and account information. The method can also receive entered information about financial transaction instruments, contact information, and product preferences in an auction profile. The method can receive a search query for a desired product from product auctions of a plurality of auction sites and can use a search agent or a meta-search agent, and can provide returned auctions, including retrieving and presenting current status of product auctions. The method can receive a selection of returned auctions to store in the portfolio for tracking by scan agents and for bidding by bid proxies. The method can receive selections of product auctions of the returned auctions and place the product auctions into the portfolio for use by a cascaded bid proxy. The method can provide auction monitoring by scan agents of temporal progression of product auctions, and can notify someone via a messaging center of any changes in relevant aspects of the status that could prevent an initial bid from being placed by a bid proxy. The method can enable activation of bid proxies as an auction nears completion to begin placing bids until the auction is won or lost by auction closing and can confirm a counter-offer has not out-bid. The method can compute and execute another higher bid if a counter-offer has been made and accepted, higher than the most recent bid detected

Claims

1. (canceled)

2. A method for automating a Bidder'"'"'s online, electronic search agent of specific electronic auctions on a targeted auction site comprising:

a. providing a programmable search agent, from a server, that searches auction catalogs of a plurality of auction sites and identifies correlations between

product parameters of a Bidder that can be at least one of entered and stored, and can include at least one of keywords, product classifications, or bid ranges, and

products that are listed for sale through dynamic competitive bidding using a number of electronic auction techniques including at least one of a Forward, a Dutch, Yankee, or Reverse auction techniques.

3. The method according to claim 2 further comprising:

b. providing additional programmable search agents searching said plurality of auction sites simultaneously for one or more products; and

c. returning a found set of said one or more products for further review and selection by a Bidder.

4-5. -5. (canceled)

6. A method for providing cascaded bidding comprising:

a. executing a series of cascaded bids for an identical product in temporally sequential auctions according to a programmed set of bid parameters, wherein the bid parameters comprise at least one of the following types;

a programmed bid value limit for one or more units of product;

or

an algorithmically calculated bid value limit based on prevailing market bids for similar or identical products monitored by agents and stored in a data warehouse.

7-17. -17. (canceled)