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Pay To Bid Auction System

  • US 20120173380A1
  • Filed: 03/12/2012
  • Published: 07/05/2012
  • Est. Priority Date: 07/07/2010
  • Status: Abandoned Application
First Claim
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1. A computer implemented system of using a first computer that performs transaction steps which communicates over the internet to a second computer for an electronic auction system comprisingan electronic server that runs an auction software and conducts auction process electronically wherein a chance-to-bid in an auction is valued and placed for purchase, and an auction participant needs to purchase said Bid to place a bid in said auction, and winning of said auction is determined by an auction rule;

  • an electronic device electronically connected with said server, and installed with a database which keeps track of said participant'"'"'s bidding history in an account of said participant;

    a display device electronically connected with said server, displaying information from said participant'"'"'s account and said auction; and

    a timer is reset to provide a new target time by adding a set number of seconds to the remaining time each time a new bid is placed.

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