Concealed performance bid

• US 8,024,228 B1
• Filed: 10/04/2007
• Issued: 09/20/2011
• Est. Priority Date: 10/04/2007
• Status: Expired due to Fees

• Current Assignee: Patrick James Schultz
• Original Assignee: Patrick James Schultz
• Inventors: Schultz, Patrick James
• Primary Examiner(s): ZURITA, JAMES H
• Application Number:
  US11/905,843
• Time in Patent Office: 1,447 Days
• Field of Search: 705/26, 705/37, 705/27
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

System(s) and method(s) for offering one or more items, for sale or for purchase, for a specified period of time during which participants bid to purchase or sell the items. The system provides each participant an indication of how their bid compares to bids placed by others. The system does not disclose the bid details of other participants. By providing this bid range of information, each bidder has a sense of their general bid position (not knowing others specific bids), compared to all bidders and by this means, the overall price offered for the item may be driven up or, in the case of offer to buy bid, driven down.

Claims

1. An internet based auction method for processing sealed bids, comprising:

tendering, by a server computer, at least one offering for auction at a web site for a predetermined period of time;

placing, by a bidder at a client computer, at least one sealed bid for the offering;

comparing, by the auction site, said sealed bid to all sealed bids, said comparing based at least in part on bid parameters including price;

providing an indication, by the auction site, to the bidder at the client computer, of a relative ranking of the user'"'"'s sealed bid compared to sealed bids from other bidders, wherein said comparison is based at least in part on the bid parameters of the sealed bids for the at least one offering;

displaying said indication at the client computer, wherein the indication is presented to the bidder in one or more formats, each format based at least in part on an upper and a lower threshold ranking criteria for each indication;

reiteratively updating said indication based on subsequent sealed bids for the offering.