System and method of conducting on-line auctions
First Claim
1. A system for conducting on-line auctions of products such that the quantity of products offered for auction varies, the system comprising:
- (a) a database server system being for storing and providing on demand, information pertaining to a plurality of products to be auctioned, said database server system further being for receiving a number of competing bids on a product of said plurality of products when said product is auctioned;
(b) a plurality of user clients each being operable by a specific user and each being for establishing communication with said database server system, each of said plurality of user clients being for receiving from said database server system information pertaining to said product auctioned and for relaying to said database server system a bid on said product auctioned; and
(c) an executable program stored in the server system to implement the following functions;
(i) receiving via an electronic communication medium competing bids from a plurality of bidders, each of said bids pertaining to at least one of the products, each of said bids having a bid value which exceeds values of all previously received bids; and
(ii) automatically varying said variable quantity of the products offered for auction responsively to at least a number of said bidders who have placed said bids such that said variable quantity of the products increases with an increasing number of said bidders.
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Accused Products
Abstract
A system for conducting on-line auctions of products is disclosed. The system comprises (a) a database server system being for storing and providing on demand, information pertaining to a plurality of products to be auctioned, the database server system further being for receiving a number of bids on a product of the plurality of products when the product is auctioned, the number of the bids received being for determining a quantity of the product auctioned; and (b) a plurality of user clients each being operable by a specific user and each being for establishing communication with the database server system, each of the plurality of user clients being for receiving from the database server system information pertaining to the product auctioned and for relaying to the database server system a bid on the product auctioned.
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Citations
26 Claims
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1. A system for conducting on-line auctions of products such that the quantity of products offered for auction varies, the system comprising:
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(a) a database server system being for storing and providing on demand, information pertaining to a plurality of products to be auctioned, said database server system further being for receiving a number of competing bids on a product of said plurality of products when said product is auctioned;
(b) a plurality of user clients each being operable by a specific user and each being for establishing communication with said database server system, each of said plurality of user clients being for receiving from said database server system information pertaining to said product auctioned and for relaying to said database server system a bid on said product auctioned; and
(c) an executable program stored in the server system to implement the following functions;
(i) receiving via an electronic communication medium competing bids from a plurality of bidders, each of said bids pertaining to at least one of the products, each of said bids having a bid value which exceeds values of all previously received bids; and
(ii) automatically varying said variable quantity of the products offered for auction responsively to at least a number of said bidders who have placed said bids such that said variable quantity of the products increases with an increasing number of said bidders. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A method of conducting an on-line auction of a product such that the quantity of product offered for auction varies, the method comprising the steps of:
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(a) providing, via a communication network, information pertaining to a product auctioned;
(b) receiving via the electronic communication medium competing bids from a plurality of bidders for said product, each of said bids having a bid value which exceeds values of all previously received bids;
(c) automatically varying said variable quantity of the said product offered for auction responsively to at least a number of said bidders who have placed said bids such that said variable quantity of the said product increases with an increasing number of said bidders; and
(d) declaring a number of said competing bids having highest bid values as winning bids, said number of competing bids corresponding to said quantity of said product auctioned, each of said winning bids enabling purchase of the said product at the corresponding bid value. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23)
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24. A method for executing an automated auction of items such that the quantity of items offered for auction varies in response to the number of bidders placing bids, comprising:
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(a) setting a variable quantity of the items offered for auction to an initial value;
(b) receiving via an electronic communication medium competing bids from a plurality of bidders, each of said bids pertaining to at least one of the items, each of said bids having a bid value which exceeds values of all previously received bids;
(c) automatically varying said variable quantity of the items offered for auction responsively to at least a number of said bidders who have placed said bids such that said variable quantity of items increases with an increasing number of said bidders; and
(d) declaring a number of said competing bids having highest bid values as winning bids, said number of competing bids corresponding to said variable quantity of the items offered for auction, each of said winning bids enabling purchase of at least one of the items at the corresponding bid value. - View Dependent Claims (25)
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26. A method for executing an automated auction of items such that the quantity of items offered for auction varies in response to the value of the bids made, comprising:
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(a) setting a variable quantity of the items offered for auction to an initial value;
(b) receiving via an electronic communication medium competing bids from a plurality of bidders, each of said bids pertaining to at least one of the items, each of said bids having a bid value which exceeds values of all previously received bids;
(c) automatically varying said variable quantity of the items offered for auction responsively to said bid values of said competing bids received such that said variable quantity of items increases with increasing bid values;
(d) automatically varying said variable quantity of the items offered for auction is further varied responsively to a number of said bidders who have placed said bids such that said variable quantity of items increases with an increasing number of said bidders; and
(e) declaring a number of said competing bids having highest bid values as winning bids, said number of competing bids corresponding to said variable quantity of the items offered for auction, each of said winning bids enabling purchase of at least one of the items at the corresponding bid value.
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Specification