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Method and system for auctioning assets and valuing same

  • US 7,729,950 B2
  • Filed: 06/11/2007
  • Issued: 06/01/2010
  • Est. Priority Date: 12/29/2000
  • Status: Active Grant
First Claim
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1. A method for conducting, managing and executing over a computer communication network, an auction of at least one claim or asset to a plurality of buyers having expressed interest in claims or assets, said method comprising the steps of:

  • placing an indication of the availability of said at least one claim or asset at a web server on said computer network wherein said indication is accessible by each of said plurality of potential buyers over said network;

    notifying at least one of said buyers of the availability of said at least one claim or asset;

    determining a market value of said at least one claim or asset based on historical data of market value of same or similar claims or assets;

    dynamically adjusting said market value based on one or more factors;

    notifying the at least one of said buyers of the determined market value and the adjusted market value;

    determining that the available volume of assets or claims is greater than a need of the at least one of said buyers;

    determining whether the available volume of assets or claims can be divided into smaller volumes;

    responsive to determining that the available volume of assets or claims cannot be divided into smaller volumes, initiating a notification to the seller;

    receiving bids from at least one of said buyers over said network;

    notifying one of said at least one buyers of acceptance of a corresponding bid when said bid satisfies predetermined criteria; and

    recording said accepted bid.

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