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Data processing system for conducting a modified on-line auction

  • US 6,366,891 B1
  • Filed: 04/07/2000
  • Issued: 04/02/2002
  • Est. Priority Date: 02/08/2000
  • Status: Expired due to Fees
First Claim
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1. A method for conducting a modified on-line auction process, comprising the steps of:

  • storing, in a computer system, a threshold value for auctioning an item;

    receiving requests at said computer system to purchase rights to bid for said item;

    fulfilling said requests to purchase rights to bid using said computer system;

    determining a sum of an aggregate of said purchases of rights to bid using said computer system; and

    conducting an on-line auction for said item only if said sum of said aggregate of said purchases of rights to bid is at least equal to said threshold value, said step of conducting being performed by said computer system, said auction has a final price, said aggregate of said purchases of rights to bid being used to allow said final price to be lower than a market price for said item.

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