One-To-Many, Double-Sided Online Auction

• US 20130110664A1
• Filed: 10/26/2011
• Published: 05/02/2013
• Est. Priority Date: 10/26/2011
• Status: Abandoned Application

• Current Assignee: PropertyRoom.com Incorporated
• Original Assignee: PropertyRoom.com Incorporated
• Inventors: Shives, Matthew S., Banks, David B., Bellomo, Peter J.
• Application Number:
  US13/281,520
• Publication Number:
  US 20130110664A1
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Systems, methods and computer program products for facilitating the operations of an online one-to-many, double-sided auction are disclosed. In an aspect of the present invention, a system includes an automated system configured to provide an ask price for an item presented in an auction, via a network, to a plurality of computing devices being utilized by a plurality of bidders and configured to receive, via the network, a plurality of bids for the item; and wherein the automated system terminates the auction in response to a termination condition. A termination condition is, for example, a bid-ask match (where a bid is greater than or equal to the ask price) or an auction time clock expiration.

Claims

1. A system for facilitating a one-to-many, double-sided online auction, comprising:

an auction server configured to provide an ask price for an item presented for sale in the auction, via a network, to a plurality of computing devices being utilized by a plurality of bidders;

wherein the auction server is further configured to receive, via the network, a plurality of bids for the item from the plurality of computing devices;

wherein the auction server is further configured to provide a modified ask price, via the network, to at least some of the plurality of computing devices, wherein the modified ask price is based on at least one of the plurality of bids;

wherein the auction server is further configured to receive, via the network and subsequent to providing the modified ask price, at least an additional bid from at least one of the plurality of computing devices;

wherein the auction server is further configured to terminate the auction in response to a termination condition; and

wherein the termination condition is one of;

a bid-ask match where a bid received by the auction server from one of the plurality of bidders is at least equal to one of;

the ask price, and the modified ask price; and

the expiration of an auction time clock.

2. The system of claim 1, wherein the ask price is an input received by the auction server from a seller of the item, and wherein the auction server is further configured to provide a modified ask price by one of:

increasing the ask price; and

decreasing the ask price.

3. The system of claim 2, wherein the auction server is further configured to receive an initial target price and a reserve price for the item presented for sale in the auction from the seller.

4. The system of claim 3, wherein the auction server is further configured to determine the modified ask price utilizing at least a portion of the equation:

modified ask price=previous ask price−

(previous ask price−

target price)*((bid−

previous bid)/(target price−

previous bid)).

5. The system of claim 4, wherein the auction server is further configured to determine a new target price based on at least a portion of the following equation:

new target price=initial target price−

(time remaining/total time)*(initial target price−

reserve price).

6. The system of claim 4, wherein the auction server is further configured to provide the modified ask price to each of the plurality of computing devices, wherein the auction server receives at least one additional bid subsequent to providing the modified ask price.

7. The system of claim 4, wherein the auction server is further configured to provide the modified ask price to less than all of the plurality of computing devices, wherein the auction server receives at least one additional bid subsequent to providing the modified ask price.

8. The system of claim 1, wherein the plurality of computing devices the auction server is configured to provide an ask price to, via the network, comprises at least one of:

a desktop computer;

a laptop computer;

a notebook computer, a personal digital assistant;

a tablet;

a mobile telephone; and

a mobile computer.

9. The system of claim 1, wherein the network is the global, public Internet;

and wherein the item presented for sale in the auction comprises one of;

a good and a service.

10. The system of claim 1, wherein the auction provides a price-determination through a game mechanics-based negotiation between a seller of the item and the plurality of buyers.

11. The system of claim 1, wherein the auction server is further configured to permit any bid received from one of the plurality of bidders to be visible to the remaining plurality of bidders.

12. The system of claim 1, wherein the auction server is further configured to permit any bid received from one of the plurality of bidders to be visible to less than all of the remaining plurality of bidders.

13. The system of claim 1, wherein the auction server is further configured to prohibit any bid received from one of the plurality of bidders from being visible to any of the remaining plurality of bidders.

14. The system of claim 1, wherein the auction server is further configured to prevent the publication of a sham bid.

15. The system of claim 1, wherein the auction server is further configured to provide a particular modified ask price in response to each bid.

16. The system of claim 1, wherein the auction server is further configured to provide a particular modified ask price in response to a pair of bids submitted within a small time frame, wherein the pair of bids comprises a first bid and a second bid submitted after the first bid, and wherein the particular modified ask price is based on a value of the first bid.

17. The system of claim 1, wherein the auction server is further configured to provide a particular modified ask price in response to a plurality of bids, and wherein the particular modified ask price is based on the highest value among the plurality of bids.

18. The system of claim 1, wherein the auction server is further configured to permit a lowest ask price and a corresponding highest bid received from of each of the plurality of bidders to be visible to each of the plurality of bidders and a seller of the item.

19. A computer implemented method for facilitating a one-to-many, double-sided online auction, comprising the steps of:

providing, by an auction server and via a network, an ask price for an item presented for sale in the auction to a plurality of computing devices being utilized by a plurality of bidders;

receiving, at the auction server and via the network, a plurality of bids for the item from the plurality of bidders;

providing, by the auction server and via the network, a modified ask price to at least some of the plurality of computing devices, wherein the modified ask price is based on at least one of the plurality of bids;

receiving, at the auction server, via the network and subsequent to providing the modified ask price, at least an additional bid from at least one of the plurality of computing devices; and

terminating, by the auction server, the auction in response to a termination condition;

wherein the termination condition is one of;

a bid-ask match where a bid received by the auction server from one of the plurality of bidders is at least equal to one of;

the ask price, and the modified ask price; and

the expiration of an auction time clock.

20. The method of claim 19, further comprising the steps of:

receiving, by the auction server and via the network, the ask price from a seller of the item;

determining, by the auction server and via the network, a modified ask price by one of;

increasing the ask price; and

decreasing the ask price.

21. The method of claim 20, further comprising the step of:

receiving, by the auction server and via the network, an initial target price and a reserve price for the item presented for sale in the auction from the seller.

22. The method of claim 21, further comprising the step of:

determining, by the auction server, the modified ask price utilizing at least a portion of the equation;

modified ask price=previous ask price−

(previous ask price−

target price)*((bid−

previous bid)/(target price−

previous bid)).

23. The method of claim 22, further comprising the step of:

determining, by the auction server, a new target price based on at least a portion of the following equation;

new target price=initial target price−

(time remaining/total time)*(initial target price−

reserve price).

24. The method of claim 22, further comprising the step of:

providing, by the auction server, the modified ask price to each of the plurality of computing devices, wherein the auction server receives at least one additional bid subsequent to providing the modified ask price.

25. The method of claim 22, further comprising the step of:

providing, by the auction server, the modified ask price to less than all of the plurality of computing devices, wherein the auction server receives at least one additional bid subsequent to providing the modified ask price.

26. The method of claim 19, wherein the plurality of computing devices comprises at least one of:

a desktop computer;

a laptop computer;

a notebook computer, a personal digital assistant;

a tablet;

a mobile telephone; and

a mobile computer.

27. The method of claim 19, wherein the network is the global, public Internet;

and wherein the item presented for sale in the auction comprises one of;

a good and a service.

28. The method of claim 19, wherein the auction provides a price-determination through a game mechanics-based negotiation between a seller of the item and the plurality of buyers.

29. A computer program product comprising computer usable medium encoded in a computer having control logic stored therein for causing the computer to facilitate a one-to-many, double-sided online auction, said control logic comprising:

first computer readable program code means for causing the computer to provide, via a network, an ask price for an item presented for sale in the auction to a plurality of computing devices being utilized by a plurality of bidders;

second computer readable program code means for causing the computer to receive, via the network, a plurality of bids for the item from the plurality of bidders;

third computer readable program code means for causing the computer to provide, via the network, a modified ask price to at least some of the plurality of computing devices, wherein the modified ask price is based on at least one of the plurality of bids;

fourth computer readable program code means for causing the computer to receive, via the network and subsequent to providing the modified ask price, at least an additional bid from at least one of the plurality of computing devices; and

fifth computer readable program code means for causing the computer to terminate the auction in response to a termination condition;

wherein the termination condition is one of;

a bid-ask match where a bid received by the auction server from one of the plurality of bidders is at least equal to one of;

the ask price, and the modified ask price; and

the expiration of an auction time clock.

30. The computer program product of claim 29, further comprising:

sixth computer readable program code means for causing the computer to receive, via the network, the ask price from a seller of the item;

seventh computer readable program code means for causing the computer to determine, via the network, a modified ask price by one of;

increasing the ask price; and

decreasing the ask price.