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Auction method and apparatus for electronic commerce

  • US 6,892,186 B1
  • Filed: 09/13/2000
  • Issued: 05/10/2005
  • Est. Priority Date: 09/15/1999
  • Status: Expired due to Fees
First Claim
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1. A computer program operating in a trading device, the computer program comprising:

  • logic for selecting a plurality of auction entities operating auctions simultaneously that include similar goods or services for trading;

    logic for monitoring at least active bids of each of the goods or services from each of the plurality of auction entities;

    logic for processing the monitored active bids plus a respective bid increment to determine a plurality of bids, each bid for outbidding each of the monitored active bids respectively;

    logic for selecting a lowest bid from the determined bids, wherein when at least two of the plurality of the bids are equal, the logic for selecting further comprises logic for selecting the lowest bid having an earliest auction finish time; and

    logic for communicating the selected bid to the respective auction entity.

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