Consumer-to-Business Exchange Auction

• US 20130097045A1
• Filed: 10/18/2011
• Published: 04/18/2013
• Est. Priority Date: 10/18/2011
• Status: Active Grant

• Current Assignee: AutoTrader.com, Inc. (Cox Enterprises Incorporated)
• Original Assignee: Cox Enterprises Incorporated
• Inventors: Skutta, Brian Edward
• Granted Patent: US 8,538,828 B2
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Systems and methods for implementing an item exchange service are usable to aid users in exchanging old items for newer items. According to one embodiment, a system can be operable to receive a request to offer a vehicle in an auction, calculate a base exchange value for the vehicle and provide, to one or more vehicle resellers, auction information associated with the vehicle. Additionally, the system may be configured to receive an exchange bid for the vehicle, determine a final exchange value of the vehicle, and provide the final exchange value of the vehicle to a seller of the vehicle. Further, the system may be configured to allow the seller to determine a course of action regarding disposing of the vehicle after conclusion of the exchange auction.

Claims

1. A system, comprising:

at least one memory that stores computer-executable instructions;

at least one processor configured to access the at least one memory, wherein the at least one processor is configured to execute the computer-executable instructions to;

receive a request to offer a vehicle in an auction;

calculate a base exchange value for the vehicle based at least in part on market information associated with the vehicle;

provide, to a seller of the vehicle, underwriting based at least in part on the base exchange value;

provide, to one or more vehicle resellers, auction information associated with the vehicle;

receive an exchange bid for the vehicle, wherein the bid is at least equal to or greater than the calculated base exchange value;

determine a final exchange value of the vehicle based at least in part on the received exchange bid for the vehicle;

provide the final exchange value of the vehicle to the seller of the vehicle;

receive, from the seller of the vehicle, an indication of acceptance or rejection of the final exchange value of the vehicle; and

provide the final exchange value to the one or more vehicle resellers when the received indication comprises acceptance of the final exchange value;

or

provide a redemption query to the user associated with the vehicle when the received indication comprises rejection of the final exchange value.

2. The system of claim 1, wherein the at least one processor is further configured to execute the computer-executable instructions to:

provide at least one of;

the base exchange value, to the one or more vehicle resellers, when the response to the redemption query indicates that the seller of the vehicle agrees to exchange the vehicle to the one or more vehicle resellers for the base exchange value;

or

an offer, to the seller of the vehicle, to purchase an advertisement for selling the vehicle based at least in part on the base exchange value when the response to the redemption query indicates that the seller of the vehicles does not agree to exchange the vehicle to the one or more vehicle resellers for the base exchange value.

3. The system of claim 1, wherein the vehicle comprises a used vehicle and the seller of the vehicle comprises an owner of the used vehicle.

4. The system of claim 1, wherein the calculation of the base exchange value comprises determining a market exchange value based at least in part on at least one of a vehicle identification number (VIN), vehicle sales information for a predefined period, vehicle exchange information for a predefined period, vehicle sales information for a type, class, or condition of the vehicle, or vehicle exchange information for a type, class, or condition of the vehicle.

5. The system of claim 1, wherein the one or more vehicle resellers comprise one or more vehicle dealers participating in a dealer network.

6. The system of claim 1, wherein the auction information comprises at least one of an auction start time or an auction duration.

7. A method, comprising:

receiving, by at least one network interface, a request to offer an item in an auction;

determining, by one or more processors configured to execute computer-executable instructions, a base value for the item based at least in part on market information associated with the item;

providing, to an item reseller by the at least one network interface, auction information associated with the item;

receiving a bid for the item, wherein the bid is at least equal to the base value for the item;

determining a final value of the item;

providing the final value of the item to a seller of the item; and

receiving, from the seller of the item, an indication of acceptance or rejection of the final value of the item.

8. The method of claim 7, further comprising providing an acceptance query to the seller of the item and receiving the indication of acceptance or rejection in response to the acceptance query.

9. The method of claim 8, further comprising:

providing, to the item reseller, the final value when the received indication comprises acceptance of the final value;

or

providing, to the seller of the item, a redemption query when the received indication comprises rejection of the final value.

10. The method of claim 9, further comprising:

providing at least one of;

the base value, to the item reseller, when the response to the redemption query indicates that the seller of the item agrees to sell or exchange the item to the item reseller for the base value;

or

an offer, to the seller of the item, to purchase an advertisement for selling or trading the item based at least in part on the base value when the response to the redemption query indicates that the seller of the item does not agree to sell or exchange the item to the item reseller for the base value.

11. The method of claim 7, wherein the request to offer the item in an auction comprises a request to offer a vehicle for an exchange value.

12. The method of claim 11, wherein the auction comprises at least one of a live auction or an online auction.

13. The method of claim 7, wherein the item comprises a used vehicle, and wherein determining a base value for the item comprises determining a market exchange value based at least in part on at least one of a vehicle identification number (VIN), vehicle sales information for a predefined period, vehicle exchange information for a predefined period, vehicle sales information for a type, class, or condition of the used vehicle, or vehicle exchange information for a type, class, or condition of the used vehicle.

14. The method of claim 7, wherein the item reseller participates in a network of item resellers that agree to trade for or buy the item for at least the base price.

15. The method of claim 14, wherein receiving the bid for the item comprises receiving one or more bids from item resellers of the network of item resellers.

16. The method of claim 7, wherein the market information associated with item comprises real-time or near real-time market information associated with the item.

17. The method of claim 7, wherein the final value of the item is based at least part on a highest bid placed during the auction.

18. One or more non-transitory computer-readable media storing computer-executable instructions that, when executed by at least one processor, configure the at least one processor to perform operations comprising:

receiving a request to offer an item in an auction;

determining a base value for the item based at least in part on market information;

providing auction information associated with the item to one or more item resellers;

receiving a bid for the item from the one or more item resellers, the bid at least equal to the determined base value; and

determining a final value of the item based at least in art on the received bid.

19. The one or more non-transitory computer-readable media of claim 18, wherein the bid for the item comprises an exchange value bid for a used vehicle made by a vehicle dealer associated with a network of vehicle dealers that agree to trade for or buy the used vehicle at least for the base value.

20. The one or more non-transitory computer-readable media of claim 18, wherein the item is a used vehicle owned by a user that provided the request to offer the item and the request includes an agreement that the user will liquidate the used vehicle for the base value or the final value.