Pay To Bid Auction System
First Claim
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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Accused Products
Abstract
Methods and systems for conducting electronic auctions. Bidders purchase the chance to bid, the number of times bidding are used as a winning factor. Bidder who has the highest Personal Bid and earliest bid time is selected as winner. Alternatively, Bidder who spend Highest Credit Bid and earliest bid time is selected as winner. 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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Citations
13 Claims
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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 comprising
an 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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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Specification