Electronic silent auction system and method

• US 7,562,034 B2
• Filed: 04/01/2004
• Issued: 07/14/2009
• Est. Priority Date: 04/01/2004
• Status: Active Grant

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: Lutnick, Howard W., Asher, Joseph M.
• Primary Examiner(s): Pond; Robert M.
• Application Number:
  US10/816,238
• Publication Number:
  US 20050222914A1
• Time in Patent Office: 1,930 Days
• Field of Search: 705/26, 705/27, 705/37
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• 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 electronic silent auctioning system comprising a first local client, a second local client, and a local network device. The network device is operable to receive one or more unique bids on an item from each local client. The item is described in a central repository on the server for processing. The server is operable to determine a winning bid for the item based on predetermined criteria and communicate the received bids to a server.

Claims

1. A method comprising:

selecting, using a computing device, an item for auction, wherein the item is selected from a plurality of items stored on a server;

transmitting to a remote device an indication that the selected item is available for auction for a period of time, wherein the remote device is connected to the computing device via a network;

receiving, from each of a plurality of bidders, at least one bid to purchase the selected item, wherein each bid is received before the period of time has expired and each bidder is located remotely from the server;

determining, using the computing device, that the period of time has expired based on determining that;

(1) a first quantity of bids is received before a first time interval, wherein the first quantity of bids is less than a first pre-determined value; and

(2) a second quantity of bids is received before a second time interval, wherein the second quantity of bids is less than a second pre-determined value; and

determining a winning bid for the selected item based on predetermined criteria.

2. The method of claim 1 further comprising

receiving each bid via a wireless connection.

3. The method of claim 1, wherein the receiving at least one bid to purchase the selected item further comprises:

receiving, via a wireless device, at least one bid from each of the plurality of bidders.

4. The method of claim 1 further comprising:

receiving each bid associated with the item via an auction site.

5. The method of claim 1 further comprising:

associating each of the plurality of items with an electronic bidsheet that is stored in the server, and wherein the electronic bidsheet comprises at least one bid to purchase the item.

6. The method of claim 5, wherein each electronic bidsheet comprises a description of the associated item.

7. The method of claim 1, wherein the receiving at least one bid to purchase the selected item further comprises:

receiving, via a local client, at least one bid from each of the plurality of bidders, wherein each client comprises a graphical user interface that is operable to receive an identifier of each bidder.

8. The method of claim 7, wherein the identifier of the bidder comprises a card number that coupled with a card reader is operable to process a card associated with the card number.

9. The method of claim 1 wherein the determining a winning bid for the selected item based on the predetermined criteria further comprises:

determining that a value associated with the winning bid is greater than a plurality of other values associated with other bids submitted during the period of time.

10. The method of claim 1 further comprising:

receiving a payment for the selected item from a bidder who submitted the winning bid; and

delivering the selected item to the bidder who submitted the winning bid.

11. The method of claim 1 further comprising:

receiving at least one other bid from at least one other customer after the period of time has expired; and

notifying the other customer that the other bid has been rejected.

12. The method of claim 1, wherein the first quantity of bids is greater than the second quantity of bids.

13. An apparatus comprising:

a processor; and

a memory, wherein the memory stores instructions which, when executed by the processor, direct the processor to perform the acts of;

selecting, using a computing device, an item for auction, wherein the item is selected from a plurality of items stored on a server;

transmitting to a remote device an indication that the selected item is available for auction for a period of time, wherein the remote device is connected to the computing device via a network;

receiving, from each of a plurality of bidders, at least one bid to purchase the selected item, wherein each bid is received before the period of time has expired and each bidder is located remotely from the server;

determining, using the computing device, that the period of time has expired based on determining that;

(1) a first quantity of bids is received before a first time interval, wherein the first quantity of bids is less than a first pre-determined value; and

(2) a second quantity of bids is received before a second time interval, wherein the second quantity of bids is less than a second pre-determined value; and

determining a winning bid for the selected item based on predetermined criteria.

14. The apparatus of claim 13, wherein the instructions further direct the processor to perform the act of:

receiving each bid via a wireless connection.

15. The apparatus of claim 13, wherein the act of receiving at least one bid to purchase the selected item further comprises:

receiving, via a wireless device, at least one bid from each of the plurality of bidders.

16. The apparatus of claim 13, wherein the instructions further direct the processor to perform the act of:

receiving each bid associated with the item via an auction site.

17. The apparatus of claim 13, wherein the instructions further direct the processor to perform the act of:

associating each of the plurality of items with an electronic bidsheet that is stored in the server, and wherein the electronic bidsheet comprises at least one bid to purchase the item.

18. The apparatus of claim 17, wherein each electronic bidsheet comprises a description of the associated item.

19. The apparatus of claim 13, wherein the act of receiving at least one bid to purchase the selected item further comprises:

receiving, via a local client, at least one bid from each of the plurality of bidders wherein each client comprises a graphical user interface that is operable to receive an identifier of each bidder.

20. The apparatus of claim 19, wherein the identifier of the bidder comprises a card number that coupled with a card reader is operable to process a card associated with the card number.

21. The apparatus of claim 13, wherein the act of determining the winning bid for the selected item based on the predetermined criteria further comprises:

determining that a value associated with the winning bid is greater than a plurality of other values associated with other bids submitted during the period of time.

22. The apparatus of claim 13, wherein the instructions further direct the processor to perform the acts of:

receiving a payment for the selected item from a bidder who submitted the winning bid; and

delivering the selected item to the bidder who submitted the winning bid.

23. The apparatus of claim 13, wherein the instructions further direct the processor to perform the acts of:

receiving at least one other bid from at least one other customer after the period of time has expired; and

notifying the other customer that the other bid has been rejected.

24. The apparatus of claim 13, wherein the first quantity of bids is greater than the second quantity of bids.

25. An article of manufacture comprising:

a storage medium, wherein the storage medium stores instructions which, when executed by a processor, direct the processor to perform the acts of;

selecting, an item for auction, wherein the item is selected from a plurality of items stored on a server;

transmitting to a remote device an indication that the selected item is available for auction for a period of time, wherein the remote device is connected to the computing device via a network;

receiving, from each of a plurality of bidders, at least one bid to purchase the selected item, wherein each bid is received before the period of time has expired and each bidder is located remotely from the server;

determining, using the computing device, that the period of time has expired based on determining that;

(1) a first quantity of bids is received before a first time interval, wherein the first quantity of bids is less than a first pre-determined value; and

(2) a second quantity of bids is received before a second time interval, wherein the second quantity of bids is less than a second pre-determined value; and

determining a winning bid for the selected item based on predetermined criteria.

26. The article of manufacture of claim 25, wherein the instructions further direct the processor to perform the act of:

receiving each bid via a wireless connection.

27. The article of manufacture of claim 25, wherein the act of receiving at least one bid to purchase the selected item further comprises:

receiving, via a wireless device, at least one bid from each of the plurality of bidders.

28. The article of manufacture of claim 25, wherein the instructions further direct the processor to perform the act of:

receiving each bid associated with the item via an auction site.

29. The article of manufacture of claim 25, wherein the instructions further direct the processor to perform the act of:

associating each of the plurality of items with an electronic bidsheet that is stored in the server, and wherein the electronic bidsheet comprises at least one bid to purchase the item.

30. The article of manufacture of claim 29, wherein each electronic bidsheet comprises a description of the associated item.

31. The article of manufacture of claim 25, wherein the act of receiving at least one bid to purchase the selected item further comprises:

receiving, via a local client, at least one bid from each of the plurality of bidders, wherein each client comprises a graphical user interface that is operable to receive an identifier of each bidder.

32. The article of manufacture of claim 31, wherein the identifier of the bidder comprises a card number that coupled with a card reader is operable to process a card associated with the card number.

33. The article of manufacture of claim 25, wherein the act of determining the winning bid for the selected item based on the predetermined criteria further comprises:

determining that a value associated with the winning bid is greater than a plurality of other values associated with other bids submitted during the period of time.

34. The article of manufacture of claim 25, wherein the instructions further direct the processor to perform the acts of:

receiving a payment for the selected item from a bidder who submitted the winning bid; and

delivering the selected item to the bidder who submitted the winning bid.

35. The article of manufacture of claim 25, wherein the instructions further direct the processor to perform the acts of:

receiving at least one other bid from at least one other customer after the period of time has expired; and

notifying the other customer that the other bid has been rejected.

36. The article of manufacture of claim 25, wherein the first quantity of bids is greater than the second quantity of bids.