Time-Varying Cost-of-Bid Electronic Auction System

• US 20120030056A1
• Filed: 10/04/2011
• Published: 02/02/2012
• Est. Priority Date: 09/21/1999
• Status: Active Grant

• Current Assignee: Raphael A. Monsanto
• Original Assignee: Raphael A. Monsanto
• Inventors: Monsanto, Raphael A.
• Granted Patent: US 8,595,086 B2
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

A method of transacting sales over a computerized network defining a product desired to be purchased by a plurality of purchasers. A plurality of database records are produced and stored, each corresponding to a correlation between the product and a respective one of the purchasers. A cost-of-bid price is calculated in response to a first time rate at which the plurality of database records are accumulated in the database memory during the storing. The process is repeated to produce a cost-of-bid price that varies in time in response to the time rate of accumulation of the database records.

Claims

1. A method of transacting sales over a computerized network, the method comprising the steps of:

defining a product desired to be purchased by a plurality of purchasers;

calculating a first cost-of-bid price;

producing a plurality of database records, each corresponding to a correlation between the product and a respective one of the purchasers;

storing the plurality of database records in a database memory;

identifying a first time rate at which the plurality of database records are accumulated in the database memory during performance of said step of storing; and

calculating a second cost-of-bid price responsive to the time rate identified in said step of identifying a time rate.

2. The method of claim 1, wherein there are further provided the steps of:

identifying a second time rate at which the plurality of further database records are accumulated in the database memory; and

calculating a third cost-of-bid price responsive to the second time rate identified in said step of identifying a second time rate.

3. The method of claim 1, wherein said step of calculating a first cost-of-bid price is responsive to historical sales performance of the first product.

4. The method of claim 1, wherein there is further provided the step of determining a reserve price responsive to an acquisition cost of the product.

5. The method of claim 4, wherein said step of determining a reserve price is responsive to a price trend of an article similar to the product.