SYSTEMS AND METHODS FOR ELECTRONIC COMMERCE WITH EXTENDABLE AUCTION PERIODS
First Claim
1. An online auction service hosted on one or more servers communicating with a plurality of user devices via one or more digital communication networks, the servers having one or more processors and memory storing instructions which, when executed by the processors, cause the servers to perform a method comprising:
- transmitting information describing an item available for auction to one or more of said user devices;
monitoring for receipt of bids on the item during an initial auction period from said one or more end user devices;
determining whether criteria for extending the auction have been met;
monitoring for receipt of bids on the item from said user devices during one or more overtime auction periods provided said criteria for extending the auction have been met at the inception of each said overtime auction period.
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Abstract
An electronic commerce auction system is provided. The auction system receives bids during an initial auction period. The auction period can be extended by overtime auction periods. The duration and quantity of overtime auction periods can vary based on criteria such as the number of new bids in the prior period, the cumulative duration of overtime periods, and the amount by which the high bid has increased compared to the close of the prior period.
10 Citations
11 Claims
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1. An online auction service hosted on one or more servers communicating with a plurality of user devices via one or more digital communication networks, the servers having one or more processors and memory storing instructions which, when executed by the processors, cause the servers to perform a method comprising:
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transmitting information describing an item available for auction to one or more of said user devices; monitoring for receipt of bids on the item during an initial auction period from said one or more end user devices; determining whether criteria for extending the auction have been met; monitoring for receipt of bids on the item from said user devices during one or more overtime auction periods provided said criteria for extending the auction have been met at the inception of each said overtime auction period. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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Specification