AVERAGE SALVAGE VALUE METHOD AND APPARATUS

• US 20140164259A1
• Filed: 09/18/2013
• Published: 06/12/2014
• Est. Priority Date: 09/18/2012
• Status: Abandoned Application

• Current Assignee: Insurance Auto Auctions Incorporated (RB Global, Inc.)
• Original Assignee: Insurance Auto Auctions Incorporated (RB Global, Inc.)
• Inventors: Hildreth, Anthony B., Tamas, Andrei F.
• Application Number:
  US14/030,680
• Publication Number:
  US 20140164259A1
• Time in Patent Office: Days
• US Class Current: 705/306
• CPC Class Codes: G06Q 30/0278 Product appraisal

Abstract

A method and apparatus for searching a database of vehicle values for a damaged or donated vehicle to determine a value of a vehicle of interest. The search permits free text searching and performs autocomplete of search terms as well as autocomplete of related search terms. Search results are determined after search terms are deciphered by the algorithm and those deciphered terms are then used to query the database to identify matching information.

Claims

1. A method for obtaining a value of a damaged or donated vehicle, comprising the steps of:

in a computer, receiving a search request from a user for a vehicle value;

in a computer, interpreting free text search terms from the user describing a vehicle of interest to recognize known search values;

displaying options to the user for options corresponding to recognized known search terms;

in a computer, searching a table of distinct entries of vehicle values, wherein the distinct values are a reduced number of entries derived from a larger database of entries of vehicle values; and

displaying search results from the table of distinct entries, the results being drawn from the table of distinct values.

2. A system for determining an average salvage value of a vehicle, comprising:

a database of vehicle sales including records of vehicle information wherein the information includes sale price and vehicle year and make and model;

a distinct values table derived from the database and containing records of vehicle information having distinct values for at least the vehicle year and make and model;

an autocomplete function operable to automatically complete vehicle information entered into a text field by a user;

an average value function operable to generate an average of sale price for vehicles found in a search of the distinct values table.