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Auction system for remote bidding and method

  • US 7,428,501 B2
  • Filed: 04/23/2004
  • Issued: 09/23/2008
  • Est. Priority Date: 12/08/2003
  • Status: Active Grant
First Claim
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1. A system for conducting interactive auctions with remote bidders, the system comprising:

  • an auction system operable to maintain information related to a subject of an auction, the auction system establishing a price at which the subject of the auction is offered; and

    a remote bidder system operable to communicate a bid including bid information to the auction system, the bid accepting the offer for the subject of the auction at the price established by the auction system, the auction system using at least a portion of the bid information and a delay component to determine whether to accept the bid,wherein the auction system uses at least a portion of the bid information to determine whether to accept the bid based on whether the price for the subject of the auction has changed, the auction system further determining whether to accept the bid using the delay component which includes a delay time after the price for the subject of the auction is changed before the auction system will accept bids.

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