SELLER DASHBOARD AND RESERVE PRICE LOWERING

• US 20140279153A1
• Filed: 03/14/2014
• Published: 09/18/2014
• Est. Priority Date: 03/15/2013
• Status: Active Grant

• Current Assignee: Ten-X, LLC
• Original Assignee: Ten-X, LLC
• Inventors: Friedman, Robert
• Granted Patent: US 10,380,680 B2
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

A method and system for a seller auction dashboard and reserve price lowering are described. The system generates a dashboard presentation that displays real-time information about each of a seller'"'"'s auctions including a current price, reserve price, and an indicator of whether the latest bid was set by a prospective buyer or the seller masquerading as a buyer. The dashboard also indicates which auctions are below their reserve prices and displays reserve price suggestions and success probabilities based on qualitative and quantitative metrics.

Claims

1. A method for conducting an online auction, the method being implemented by one or more processors and comprising:

identifying an auction in a set of auctions associated with a seller;

generating one or more reserve price suggestions for the auction based on at least one qualitative or quantitative metric;

generating a corresponding set of probabilities which indicate a likelihood of the auction reaching each of the reserve price suggestions; and

communicating to the seller the one or more reserve price suggestions and the corresponding set of probabilities.

2. The method of claim 1, further comprising:

generating a presentation that displays real-time information about each auction in the set of auctions associated with the seller, the real-time information including a current price of the auction, a reserve price of the auction, and an indicator as to a source of the last bid that set the current price; and

indicating, on the presentation, (i) each auction for which the current price exceeds the reserve price, and (ii) each auction for which the current price is less than the reserve price.

3. The method of claim 2, wherein the one or more reserve price suggestions and the corresponding set of probabilities are communicated to the seller on the presentation.

4. The method of claim 2, wherein the presentation allows the seller to lower the reserve price.

5. The method of claim 2, wherein the presentation allows the seller to generate a new bid and conceal a source of this bid from prospective bidders.

6. The method of claim 1, wherein the at least one qualitative or quantitative metric includes profile information about the seller, transaction history for an item being auctioned, transaction history for a type of item being auctioned, bidding activity on the auction, or a scheduled event.

7. The method of claim 6, wherein the bidding activity on the auction corresponds to a number of bidders, a number of views, or a number of registrations.

8. The method of claim 1, wherein the seller can choose one or more triggers that generate a notification for lowering the reserve price.

9. A computer system comprising:

a memory resource that stores a set of instructions;

a database that stores a set of auction records;

one or more processors that use instructions in a set of auctions to;

identify, from the database, a set of multiple auctions in progress that belong to a seller;

generate a presentation that displays real-time information about each auction in the set of multiple auctions of the seller, the real-time information including a current price of the auction, a reserve price of the auction, and an indicator as to whether a bid that set the current price originated from a prospective buyer or the seller;

generate one or more reserve price suggestions for each auction in the set of multiple auctions in progress based on at least one qualitative or quantitative metric; and

indicate, on the presentation, (i) each auction for which the current price exceeds the reserve price, (ii) each auction for which the current price is less than the reserve price, and (iii) the one or more reserve price suggestions.

10. The method of claim 9, wherein the presentation allows the seller to lower the reserve price.

11. The method of claim 9, wherein the presentation allows the seller to generate a new bid and conceal a source of this bid from a prospective buyer.

12. The method of claim 9, wherein the at least one qualitative or quantitative metric includes profile information about the seller, transaction history for an item being auctioned, transaction history for a type of item being auctioned, bidding activity on the auction, or a scheduled event.

13. The method of claim 12, wherein the bidding activity on the auction corresponds to a number of bidders, a number of views, or a number of registrations.

14. The method of claim 9, wherein the seller can choose one or more triggers that generate a notification for lowering the reserve price.

15. A non-transitory machine-readable media containing instructions that, when executed by a processor, perform operations comprising:

identifying an auction in a set of auctions associated with a seller;

generating one or more reserve price suggestions for the auction based on at least one qualitative or quantitative metric;

generating a corresponding set of probabilities which indicate a likelihood of the auction reaching each of the reserve price suggestions; and

communicating to the seller the one or more reserve price suggestions and the corresponding set of probabilities.