Method and system for disguised price bidding in online auctions

• US 7,792,713 B1
• Filed: 01/24/2000
• Issued: 09/07/2010
• Est. Priority Date: 01/24/2000
• Status: Expired due to Term

• Current Assignee: Ariba Incorporated (SAP SE)
• Original Assignee: Ariba Incorporated (SAP SE)
• Inventors: Stevens, Robert G., Levis, John P. III, Kinney, Sam E. Jr.
• Primary Examiner(s): Felten; Daniel S
• Application Number:
  US09/490,868
• Time in Patent Office: 3,879 Days
• Field of Search: 705/37, 705/42, 705/1, 705/35
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method and system for conducting electronic online auctions having disguised bidding is disclosed. Submitted bids are ordered on a basis of a comparative bid parameter used by an originator of an auction. The ordinal rank of a bid is reported to the bidder.

Claims

1. A method of conducting an electronic online auction between a plurality of bidders, comprising:

(a) receiving a plurality of bids from bidders;

(b) determining, using a computer, a rank for each bid in the plurality of bids; and

(c) for each bid, displaying the rank determined in (b) to the bidder who made the bid, and not displaying the value of any other bids;

wherein (a) comprises receiving a bid price in a base currency, wherein said bid price is originally defined in a local currency of said first bidder.

2. The method of claim 1, wherein the ranking in (b) determines an ordinal rank for each bid that is displayed to the bidder in (c).

3. The method of claim 1, wherein (b) comprises ranking bids in accordance with the price of the bids.

4. The method of claim 1, further comprising transforming a bidder comparative bid parameter into a comparative bid parameter for the originator of the auction.

5. The method of claim 1, further comprising transmitting the rank to the bidder.

6. The method of claim 1, further comprising (b) and (c) as new bids are received.

7. The method of claim 1, wherein (c) comprises displaying a tie rank to the bidder if the ranking in (b) results in a tie.

22. The method of claim 1, further comprising transmitting the rank to the bidder.

8. A system for processing the bidding information in an electronic auction amongst a plurality of bidders, comprising:

an interface configured to receive a plurality of bids from bidders; and

a processor configured to determine a rank for each bid in the plurality of bids and for each bid, cause the rank to be displayed to the bidder who made the bid, and the value of any other bids to not be displayed;

wherein the interface is configured to receive a bid price in a base currency, wherein said bid price is originally defined in a local currency of said first bidder.

9. The system of claim 8, wherein ranking bids includes determining an ordinal rank for each bid that is displayed to the bidder.

10. The system of claim 8, wherein ranking bids includes ranking in accordance with the price of the bids.

11. The system of claim 8, wherein the processor is further configured to transform a bidder comparative bid parameter into a comparative bid parameter for the originator of the auction.

12. The system of claim 8, wherein the processor is further configured to transmit the rank to the bidder.

13. The system of claim 8, wherein the communication interface is further configured to receive and rank bids as new bids are received.

14. The system of claim 8, wherein displaying the rank comprises displaying a tie rank to the bidder if the ranking results in a tie.

15. A computer program product for conducting an electronic online auction between a plurality of bidders, the computer program product being embodied in a computer readable storage medium and comprising instructions which when executed cause a processor to:

receive a plurality of bids from bidders;

determine a rank for each bid in the plurality of bids; and

for each bid, display the determined rank to the bidder who made the bid, and not display the value of any other bids;

wherein receiving a plurality of bids comprises receiving a bid price in a base currency, wherein said bid price is originally defined in a local currency of said first bidder.

16. A method of conducting an electronic online auction between a plurality of bidders, comprising:

(a) receiving a plurality of bids from bidders;

(b) determining, using a computer, a rank for each bid in the plurality of bids; and

(c) for each bid, displaying the rank determined in (b) to the bidder who made the bid, and not displaying the value of any other bids;

wherein displaying the rank comprises displaying a tie rank to the bidder if the ranking results in a tie.

17. The method of claim 16, wherein the ranking in (b) determines an ordinal rank for each bid that is displayed to the bidder in (c).

18. The method of claim 16, wherein (b) comprises ranking bids in accordance with the price of the bids.

19. The method of claim 16, further comprising transforming a bidder comparative bid parameter into a comparative bid parameter for the originator of the auction.

20. The method of claim 16, wherein (a) comprises receiving transformed bid information.

21. The method of claim 20, wherein (a) comprises receiving a bid price in a base currency, wherein said bid price is originally defined in a local currency of said first bidder.

23. The method of claim 20, further comprising (b) and (c) as new bids are received.

24. A system for processing the bidding information in an electronic auction amongst a plurality of bidders, comprising:

an interface configured to receive a plurality of bids from bidders;

a processor configured to determine a rank for each bid in the plurality of bids; and

for each bid, cause the rank to be displayed to the bidder who made the bid, and the value of any other bids to not be displayed;

wherein displaying the rank comprises displaying a tie rank to the bidder if the ranking results in a tie.

25. The system of claim 24, wherein ranking bids includes determining an ordinal rank for each bid that is displayed to the bidder.

26. The system of claim 24, wherein ranking bids includes ranking in accordance with the price of the bids.

27. The system of claim 24, wherein the processor is further configured to transform a bidder comparative bid parameter into a comparative bid parameter for the originator of the auction.

28. The system of claim 24, wherein receiving bids

comprises receiving a bid price in a base currency, wherein said bid price is originally defined in a local currency of said first bidder.

29. The system of claim 24, wherein the processor is further configured to transmit the rank to the bidder.

30. The system of claim 24, wherein the communication interface is further configured to receive and rank bids as new bids are received.

31. The system of claim 24, wherein displaying the rank comprises displaying a tie rank to the bidder if the ranking results in a tie.

32. A computer program product for conducting an electronic online auction between a plurality of bidders, the computer program product being embodied in a computer readable storage medium and comprising instructions which when executed cause a processor to:

(a) receive a plurality of bids from bidders;

(b) determine a rank for each bid in the plurality of bids; and

(c) for each bid, display the determined rank to the bidder who made the bid, and not display the value of any other bids

wherein (c) comprises displaying a tie rank to the bidder if the ranking in (b) results in a tie.