PROGRESSIVE LOT BIDDING FOR ONLINE AUCTIONS

• US 20140279159A1
• Filed: 03/14/2014
• Published: 09/18/2014
• Est. Priority Date: 03/15/2013
• Status: Abandoned Application

• Current Assignee: Ten-X, LLC
• Original Assignee: Ten-X, LLC
• Inventors: Friedman, Robert
• Application Number:
  US14/214,643
• Publication Number:
  US 20140279159A1
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

A bidding process is initiated for a lot of multiple items. Upon the bidding process being complete, a highest bid is determined for the lot of multiple items. A highest bidder is prompted to select a number of items from the lot of multiple items for transaction based on the highest bid. A number of remaining items are determined after the selected number of items are removed from the lot. For a duration of time, one or more other auction participants are prompted to select any one or more of the remaining items for transaction based on the highest bid. After the duration, a second bidding process is initiated for a lot of multiple remaining items that were not selected for transaction by the one or more other participants.

Claims

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

initiating a first auction for a lot of multiple items;

upon completion of the auction, determining a highest bid corresponding to a highest bidder for the lot of multiple items;

prompting the highest bidder to individually select one or more of the multiple items in the lot for transaction based on the highest bid;

removing the selected items from the lot, resulting in a lot of remaining items;

in response to removing the selected items, prompting, for a duration of time, auction participants to select one or more of the remaining items for transaction based on the highest bid;

removing the selected one or more of the remaining items from the lot of remaining items, resulting in a final lot of items;

after the duration of time, initiating a second auction for the final lot of items.

2. The computer-implemented method of claim 1, further comprising communicating to the auction participants, over a network, a price for each item in the lot of remaining items.

3. The computer-implemented method of claim 2, wherein the auction is conducted at a website, and wherein communicating to the auction participants includes publishing the price on a web page hosted at the website.

4. The computer-implemented method of claim 3, further comprising publishing a timer that displays the duration of time.

5. The computer-implemented method of claim 1, further comprising setting a first reserve price for at least the first auction, wherein prompting the highest bidder to individually select one or more of the multiple items in the lot is performed when the highest bid exceeds the first reserve price.

6. The computer-implemented method of claim 1, further comprising setting a second reserve price for the second auction.

7. The computer-implemented method of claim 1, wherein prompting the auction participants to select one or more of the remaining items for transaction includes listing a price-per item that is less than a price-per item of the highest bid.

8. The computer-implemented method of claim 1, wherein prompting the highest bidder to individually select one or more of the multiple items includes programmatically determining a price-per item selected that is proportionate to the highest bid.

9. The computer-implemented method of claim 1, wherein prompting the highest bidder to individually select one or more of the multiple items includes programmatically determining a price-per item selected that is higher as compared to a proportionate price-per item as determined from the highest bid.

10. A computer system comprising:

one or more processors;

a network interface; and

a memory resource storing instructions defining a set of auction rules, wherein the instructions, when executed by the one or more processors, cause the one or more processors to;

initiate a first auction for a lot of multiple items;

upon completion of the auction, determine a highest bid corresponding to a highest bidder for the lot of multiple items;

prompt the highest bidder to individually select one or more of the multiple items in the lot for transaction based on the highest bid;

remove the selected items from the lot, resulting in a lot of remaining items;

in response to removing the selected items, prompt, for a duration of time, auction participants to select one or more of the remaining items for transaction based on the highest bid;

remove the selected one or more of the remaining items from the lot of remaining items, resulting in a final lot of items; and

after the duration of time, initiate a second auction for the final lot of items.

11. The system of claim 10, wherein the instructions, when executed by the one or more processors, further cause the one or more processors to communicate to the auction participants, via the network interface, a price for each item in the lot of remaining items.

12. The system of claim 11, wherein the auction is conducted at a website, and wherein communicating to the auction participants includes publishing the price on a web page hosted at the website.

13. The system of claim 12, wherein the instructions, when executed by the one or more processors, further cause the one or more processors to publish a timer that displays the duration of time.

14. The system of claim 10, wherein the instructions, when executed by the one or more processors, further cause the one or more processors to set a first reserve price for at least the first auction, wherein prompting the highest bidder to individually select one or more of the multiple items in the lot is performed when the highest bid exceeds the first reserve price.

15. The system of claim 10, wherein the instructions, when executed by the one or more processors, further cause the one or more processors to set a second reserve price for the second auction.

16. The system of claim 10, wherein prompting the auction participants to select one or more of the remaining items for transaction includes listing a price-per item that is less than a price-per item of the highest bid.

17. The system of claim 10, wherein prompting the highest bidder to individually select one or more of the multiple items includes programmatically determining a price-per item selected that is proportionate to the highest bid.

18. The system of claim 10, wherein prompting the highest bidder to individually select one or more of the multiple items includes programmatically determining a price-per item selected that is higher as compared to a proportionate price-per item as determined from the highest bid.

19. A non-transitory computer-readable medium storing instructions for conducting an auction forum that, when executed by one or more processors, cause the one or more processors to:

initiate a first auction for a lot of multiple items;

upon completion of the auction, determine a highest bid corresponding to a highest bidder for the lot of multiple items;

prompt the highest bidder to individually select one or more of the multiple items in the lot for transaction based on the highest bid;

remove the selected items from the lot, resulting in a lot of remaining items;

in response to removing the selected items, prompt, for a duration of time, auction participants to select one or more of the remaining items for transaction based on the highest bid;

remove the selected one or more of the remaining items from the lot of remaining items, resulting in a final lot of items; and

after the duration of time, initiate a second auction for the final lot of items.

20. The non-transitory computer -readable medium of claim 19, wherein the instructions, when executed by the one or more processors, further cause the one or more processors to communicate to the auction participants, via the network interface, a price for each item in the lot of remaining items.