Auction method and apparatus for electronic commerce
First Claim
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.
3 Assignments
0 Petitions
Accused Products
Abstract
An electronic trading entity (400) comprises a computing device having a processor, memory, user interface, and communications functionality, the computer entity comprising an algorithm (700) for monitoring a plurality of auction entities remotely over the internet; a algorithm (701) for calculating bids and for purchase of goods/services with a plurality of auction entities; an algorithm (702) for selecting individual auction entities with which to trade; a web browser (506) to allow a user to search for auction entities and add these to a stored list of entities at the bidding device. Bid calculation and offer calculation algorithms operate to optimally place bids at a lowest overall cost to the trading entity, or place offers with the object of obtaining the highest overall monetary figures for goods or services for sale by the trading entity.
-
Citations
32 Claims
-
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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
-
-
20. A method comprising:
-
receiving a specification of multiple auction entities residing on websites, the auction entities accessible via a network, each auction entity including an item open for bid similar to an item simultaneously open for bid on the other auction entities;
monitoring a highest bid for the item on each auction entity;
determining a lowest possible bid to outbid one of the highest bids on a respective auction entity, wherein determining the lowest possible bid further comprises;
comparing outbid values for each auction entity, each outbid value being sufficient to outbid the highest bid on the respective auction entity and being based on the highest bid and a minimum bid increment for each auction entity;
selecting the lowest outbid value;
determining whether the lowest outbid value corresponds to more than one auction entity; and
when the lowest outbid value corresponds to more than one auction entity, selecting the lowest outbid value from the auction entity with an earliest termination time; and
placing said lowest possible bid with the respective auction entity. - View Dependent Claims (21, 22, 23, 24, 25, 26)
-
-
27. A trading entity in a trading system, the trading entity comprising:
-
a first module configured to select a plurality of auction entities, each auction entity providing a good or service up for bid that is similar to a good or service simultaneously up for bid on the other auction entities;
a second module configured to monitor the highest active bid for the similar good or service on each auction entity;
a third module configured to process the highest active bids to calculate a lowest possible bid for outbidding one of the highest active bids; and
a fourth module configured to receive a user input indicating a quantity Q of the similar goods or services on which to bid, wherein;
each auction entity (i) provides a number Ni of the similar goods or services up for bid;
the second module is further configured to monitor the Ni highest active bids on each auction entity; and
the third module is further configured to process the Ni highest active bids on each auction entity to calculate the Q lowest possible bids for outbidding the highest active bids on the auction entities. - View Dependent Claims (28, 29, 30)
-
-
31. A trading entity in a trading system, the trading entity comprising:
-
a first module configured to select a plurality of auction entities, each auction entity providing a good or service up for bid that is similar to a good or service simultaneously up for bid on the other auction entities;
a second module configured to monitor active bids for each of the similar good or service on each auction entity;
a third module configured to process 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;
a fourth module configured to select a lowest bid from the determined bids, wherein when at least two of the plurality of bids are equal, the logic for selecting further comprises logic for selecting the lowest bid having an earliest auction finish time. - View Dependent Claims (32)
-
Specification