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Procurement and Salvage Auction System

  • US 20110276452A1
  • Filed: 07/20/2011
  • Published: 11/10/2011
  • Est. Priority Date: 04/30/2001
  • Status: Abandoned Application
First Claim
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1. An automated auction system comprising:

  • a network server communicatively connected to a telecommunications network, the server comprising an electronic procurement auction software program installed thereon to electronically receive a request for proposal (RFP) submitted over the telecommunications network by a requester to solicit a plurality of bids for repair of a damaged property and to electronically receive bids submitted over the telecommunications network by at least one repair bidder, wherein each repair bidder'"'"'s bid comprises the repair bidder'"'"'s price to repair the damaged property;

    an electronic forward auction software program installed on the server, wherein the server concurrently conducts an electronic procurement auction and an electronic forward auction using the electronic procurement auction software program and electronic forward auction software program installed thereon, and wherein the electronic forward auction software program electronically receives bids submitted over the telecommunications network by a plurality of salvage bidders in response to an offer to sell the damaged property that is electronically submitted over the communications network by the requester; and

    software installed on the server for comparing results of the electronic procurement auction and the electronic forward auction to make an automated recommendation that is presented to the requester concerning whether the damaged property is more valuable if repaired or if sold for salvage value.

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