Network auction system and method
First Claim
1. A method for auctioning a plurality of lots, the method comprising:
- (a) providing an auction server;
(b) recording an auction item profile for the lots in the auction server, wherein the auction item profile includes;
(i) a first starting price at which the auction of a first lot will commence;
(ii) a spread factor for determining a starting price for a second lot and subsequent lots;
(iii) an auction price change factor; and
(iv) a first reserve price,(c) initiating a first auction for the first lot, wherein the first auction begins at the first starting price, and wherein the first auction has a first current price that is initially set equal to the first starting price;
(d) during the first auction, changing the first current price according to the auction price change until the first current price reaches a first reserve price or until an offer is made for the first lot, wherein the offer is made from an auction interface coupled to the auction server through a communication network;
(e) after (d), initiating a second auction for a second lot, wherein the second auction has a second starting price that is determined, at least in part, by combining the spread factor and the outcome of the first auction; and
(f) adjusting the current price of the second auction while the second auction is ongoing based, at least in part, on the outcome of the first auction.
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Abstract
The present invention provides a computerized system and methods for conducting on-line auctions. One or more concurrent auctions for one or more lots of products or services may be conducted. A dynamic pricing mechanism allows bidders to view the price at which a lot is offered and to make a bid when the price is acceptable to the bidder. In some embodiments, the results of the auction of one lot affect the starting price, reserve price and other characteristics of auctions for subsequent lots. In some embodiments, the pricing of a lot may depend more generally on the demand for similar products. Multiple stage auctions with declining price and rising price aspects are also provided.
45 Citations
19 Claims
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1. A method for auctioning a plurality of lots, the method comprising:
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(a) providing an auction server; (b) recording an auction item profile for the lots in the auction server, wherein the auction item profile includes; (i) a first starting price at which the auction of a first lot will commence; (ii) a spread factor for determining a starting price for a second lot and subsequent lots; (iii) an auction price change factor; and (iv) a first reserve price, (c) initiating a first auction for the first lot, wherein the first auction begins at the first starting price, and wherein the first auction has a first current price that is initially set equal to the first starting price; (d) during the first auction, changing the first current price according to the auction price change until the first current price reaches a first reserve price or until an offer is made for the first lot, wherein the offer is made from an auction interface coupled to the auction server through a communication network; (e) after (d), initiating a second auction for a second lot, wherein the second auction has a second starting price that is determined, at least in part, by combining the spread factor and the outcome of the first auction; and (f) adjusting the current price of the second auction while the second auction is ongoing based, at least in part, on the outcome of the first auction. - View Dependent Claims (2, 3, 4, 5, 6, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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7. The method of claim I wherein the current price for an auction that is being carried out at any point in time is adjusted by periodically changing the current price based on the auction price change factor.
Specification