Auction system and method

• US 7,403,915 B2
• Filed: 04/10/2001
• Issued: 07/22/2008
• Est. Priority Date: 04/10/2000
• Status: Expired due to Term

• Current Assignee: Iron Planet
• Original Assignee: Iron Planet
• Inventors: Li, Ping, Bundy, Reza S., Ragozin, Dylan, Barca-Hall, Jeffrey, Coleman, William, Vudali, Madhu
• Primary Examiner(s): Trammell; Jim
• Assistant Examiner(s): Tran; Hai
• Application Number:
  US09/832,513
• Publication Number:
  US 20020013761A1
• Time in Patent Office: 2,660 Days
• Field of Search: 705/26, 705/27
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An auction system 200 in a networked environment. The system includes a preregistration module 201 for identifying and verifying a user of the auction system. The preregistration module checks the credit history of the user and generates a registration record of the user. The system includes an assurance module 210 for conducting a presale inspection of the merchandise item and to generate a merchandise inspection report. The system also includes a description module 215 for displaying the merchandise inspection report and a description report of the merchandise item. The system includes a bidding module 220 for processing a plurality of bids from a plurality of users. The bidding module analyzes each of the plurality of bids from each of the plurality of users to determine whether an incoming bid is higher or lower than a current high bid and to determine a current high bid. The system further includes a notification module 250 coupled to a system database for assigning each of the plurality of bids with each of the plurality of users and that notifies each of the plurality of users whether their bid is successful.

Claims

1. An auction system for a merchandise item in a networked environment, said networked environment comprising at least one client connected to at least one server by a network, said auction system comprising:

a preregistration module coupled to said at least one server for identifying and verifying a user of said auction system wherein said preregistration module checks the credit history of said user and generates a registration record of said user;

an assurance module coupled to said preregistration module for conducting a presale inspection of said merchandise item and to generate a merchandise inspection report, the merchandise inspection report being conducted by an impartial third party, the merchandise inspection report including a warranty for the merchandise inspection report as an assurance to the buyer;

a description module coupled to said assurance module for displaying said merchandise inspection report and a description report of said merchandise item;

a bidding module coupled to said description module for processing a plurality of bids from a plurality of users, the plurality of users including a buyer for the merchandise item, the buyer is free from providing any condition associated with the merchandise item, wherein said bidding module analyzes each of said plurality of bids from each of said plurality of users to determine whether an incoming bid is higher or lower than a current high bid and to determine a current high bid;

a system database coupled to said at least one server for storing each of said plurality of bids from each of said plurality of users, said merchandise inspection report, said description report and said registration record;

a notification module coupled to said system database for assigning each of said plurality of bids with each of said plurality of users and to notify each of said plurality of users whether their bid is successful;

wherein said merchandise inspection report is displayed prior to said processing a plurality of bids from a plurality of users;

wherein said auction system removes said merchandise item from said auction system if a seller of said merchandise item does not agree with said merchandise inspection report generated by said assurance module.

2. The auction system according to claim 1, wherein said merchandise item is a heavy equipment item.

3. The auction system according to claim 1, wherein said preregistration module is a gatekeeper to a user'"'"'s bidding qualification.

4. The auction system according to claim 1, wherein said description report includes multimedia descriptive content of said merchandise item.

5. The auction system according to claim 4, wherein said description report include a member selected from the group consisting of text, an image, a video, an audio clip, streaming video and combinations thereof.

6. The auction system according to claim 1, further comprising a merchandise locator module coupled to said description module to enable said user to search said system database.

7. The auction system according to claim 1, wherein said notification module notifies said user using a transmission selected from the group consisting of facsimile, telephone, electronic mail or wireless communication.

8. The auction system according to claim 1, wherein said networked environment is selected from the group consisting of a worldwide computer network, the Internet, a wide area network, a local area network, and an intranet.

9. The auction system according to claim 1, wherein said bidding module is configured to accept said incoming bid manually.

10. The auction system according to claim 1, wherein said bidding module is configured to accept said incoming bid by proxy.

11. The auction system according to claim 1, wherein said merchandise inspection report includes a member selected from the group consisting of merchandise video, merchandise audio, a 3-D virtual merchandise model, a virtual merchandise test drive, merchandise oil analysis, merchandise exhaust analysis and combinations thereof.

12. The auction system according to claim 2, wherein said heavy equipment item is selected from the group consisting of asphalt equipment, agricultural equipment, a compactor, a crane, a dozer, an excavator, a grader, a lift, a loader, logging equipment, an off-road truck, an on-road truck, paving equipment, power generating equipment, a scraper, a skidder, a trailer and a trencher.

13. A method for auctioning a merchandise item in a networked environment, said networked environment comprising at least one client connected to at least one server by a network, said method comprising:

inputting preregistration material from said at least one client into a system database to generate a registration record of a first user;

inspecting said merchandise item by a third party, to generate a merchandise presale inspection report of said merchandise item, the merchandise inspection report including a warranty for the merchandise inspection report as an assurance to said buyer;

removing said merchandise item from auctioning if said first user does not agree to said presale inspection report of said merchandise;

describing said merchandise item to generate a description report of said merchandise item;

browsing said inspection report and said description report to allow a second user to select said merchandise item and make a bid;

processing a plurality of bids from a plurality of users, the plurality of users includes a buyer of said merchandise item, the buyer being free from providing any condition associated with said merchandise item, and analyzing each of said plurality of bids from each of said plurality of users to determine whether an incoming bid is higher or lower than a current high bid and to determine a current high bid;

storing each of said plurality of bids from each of said plurality of users, said merchandise inspection report, said description report and said registration record in said system database;

correlating each of said plurality of bids with each of said plurality of users and notifying each of said plurality of users whether their bid is successful, thereby auctioning said merchandise item in a networked environment;

wherein said merchandise inspection report is displayed prior to said processing a plurality of bids from a plurality of users;

wherein said merchandise inspection report is conducted by an impartial third party, said merchandise inspection report including a warranty for the merchandise inspection report as an assurance to said buyer.

14. The method for auctioning according to claim 13, wherein said merchandise item is a heavy equipment item.

15. The method for auctioning according to claim 13,wherein said registration record acts as gatekeeper to said first user'"'"'s ability to bid.

16. The method for auctioning according to claim 13, wherein said description report includes streaming video of said merchandise item.

17. The method for auctioning according to claim 13, wherein said user is notified using a transmission selected from the group consisting of facsimile, telephone, electronic mail or wireless communication.

18. The method for auctioning according to claim 13, wherein said network is selected from the group consisting of a worldwide computer network, the Internet, a wide area network, a local area network, and an intranet.

19. The method for auctioning according to claim 13, wherein said bid is manually input by said second user.

20. The method for auctioning according to claim 13, wherein said bid is input by proxy.

21. The method for auctioning according to claim 13, wherein said merchandise inspection report includes a member selected from the group consisting of merchandise video, merchandise audio, a 3-D virtual merchandise model, a virtual merchandise test drive, merchandise oil analysis, merchandise exhaust analysis and combinations thereof.

22. The method for auctioning according to claim 14, wherein said heavy equipment item is selected from the group consisting of asphalt equipment, agricultural equipment, a compactor, a crane, a dozer, an excavator, a grader, a lift, a loader, logging equipment, an off-road truck, an on-road truck, paving equipment, power generating equipment, a scraper, a skidder, a trailer and a trencher.

23. The method for auctioning according to claim 13, wherein said current high bid after a period of time is declared the winner.