Method and apparatus for multiple variable bidding in an online auction
First Claim
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1. A system for facilitating an auction, comprising:
- a processor configured to;
receive a plurality of bid variables from a bidder, wherein at least one bid variable is designated as a fixed variable and wherein at least one bid variable is designated as an adjustable bid variable;
determine an initial total bid value for the bidder based at least in part on the received bid variables;
receive at least one subsequent bid variable from the bidder; and
adjust the total bid value for the bidder in accordance with the received subsequent bid variable and one or more rules governing the adjustment of bid variables designated as adjustable bid variables; and
a memory configured to store the one or more rules and configured to provide the processor with instructions.
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Abstract
A method and apparatus for automatically updating the value of a bid variable or the total bid for a multi-variable bid in an online auction is disclosed. The method includes displaying an automatically adjustable mechanism interfaced to a bidder. Thereafter, the automatic bid adjustments are calculated using the mechanism.
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Citations
20 Claims
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1. A system for facilitating an auction, comprising:
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a processor configured to; receive a plurality of bid variables from a bidder, wherein at least one bid variable is designated as a fixed variable and wherein at least one bid variable is designated as an adjustable bid variable; determine an initial total bid value for the bidder based at least in part on the received bid variables; receive at least one subsequent bid variable from the bidder; and adjust the total bid value for the bidder in accordance with the received subsequent bid variable and one or more rules governing the adjustment of bid variables designated as adjustable bid variables; and a memory configured to store the one or more rules and configured to provide the processor with instructions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for facilitating an auction, comprising:
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receiving a plurality of bid variables from a bidder, wherein at least one bid variable is designated as a fixed variable and wherein at least one bid variable is designated as an adjustable bid variable; determining, using a processor, an initial total bid value for the bidder based at least in part on the received bid variables; receiving at least one subsequent bid variable from the bidder; and adjusting the total bid value for the bidder in accordance with the received subsequent bid variable and one or more rules governing the adjustment of bid variables designated as adjustable bid variables. - View Dependent Claims (17, 18, 19)
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20. A computer program product for facilitating an auction, the computer program product being embodied in a tangible computer readable medium and comprising computer instructions for:
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receiving a plurality of bid variables from a bidder, wherein at least one bid variable is designated as a fixed variable and wherein at least one bid variable is designated as an adjustable bid variable; determining, using a processor, an initial total bid value for the bidder based at least in part on the received bid variables; receiving at least one subsequent bid variable from the bidder; and adjusting the total bid value for the bidder in accordance with the received subsequent bid variable and one or more rules governing the adjustment of bid variables designated as adjustable bid variables.
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Specification