Systems and methods for automated internet-based auctions

• US 8,533,061 B2
• Filed: 09/10/2008
• Issued: 09/10/2013
• Est. Priority Date: 03/31/2003
• Status: Expired due to Fees

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: Asher, Joseph M., Lutnick, Howard W.
• Primary Examiner(s): HAQ, NAEEM U
• Application Number:
  US12/208,189
• Publication Number:
  US 20090006221A1
• Time in Patent Office: 1,826 Days
• Field of Search: 705/26.1, 705/26.2, 705/26.25, 705/26.3, 705/26.35, 705/26.4, 705 2641- 2644, 705/26.5, 705 2661- 2664, 705/26.7, 705/26.8, 705/26.81, 705/26.82, 705/26.9, 705/27.1, 705/27.2
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention relates to systems and 5 methods for implementing an automated auction process that is held at a designated time on the Internet, and that ends after bidding has been completed. In accordance with these systems and methods, a server connected to a plurality of workstations may establish 10 several auctions that allow for efficient trading of multiple goods, while simulating the live and dynamic setting of traditional auctions.

Claims

1. A method comprising:

receiving, via a processor in an electronic auction system, bids for an item, in which each bid comprises a bid amount and an identity of the bidder, in which at least one bid is a smart bid that automatically outbids all other bids by an incremental amount until a maximum amount is reached;

generating, via the processor, an animated character that appears on a monitor of a bidder'"'"'s workstation, in which the animated character announces;

a current status of the received bids;

a start time and end time for the electronic auction a minimum bid amount for the item; and

a minimum incremental amount for each bid;

computing, via the processor after an auction period has ended, a winning bid from among the received bids, in which the winning bid has a highest bid amount at the end of the auction period; and

transmitting, via the processor, an indication of the winning bid to a remote device that is in electronic communication with the processor over a network.

2. The method of claim 1 further comprising:

receiving an indication of a reserve price for the item, in which any bids with a bid amount that falls below the reserve price is automatically rejected.

3. The method of claim 1 comprising:

generating an animated character that appears on a monitor of a bidder'"'"'s workstation, in which the animated character announces a current status of the received bids.

4. The method of claim 1, in which the animated character is capable of being heard over at least one speaker that is attached to the workstation.

5. The method of claim 1, in which computing the winning bid from among the received bids further comprises:

computing that the winning bid was submitted before at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

6. The method of claim 1, in which computing the winning bid from among the received bids further comprises:

computing that a bidder of the winning bid has submitted more bids to the electronic auction system than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

7. The method of claim 1 further comprising:

based on previous items which were bid for or purchased by a bidder, searching for additional items that are available to purchase on the electronic auction system; and

displaying the additional items on the bidder'"'"'s workstation.

8. The method of claim 1 further comprising:

in response to receiving a request to retract a previously submitted bid before the auction period has ended, rescinding the previously submitted bid.

9. The method of claim 1, in which the animated character informs the bidder that his bid has been outbid by another bid.

10. The method of claim 1, in which computing the winning bid from among the received bids further comprises:

computing that a bidder of the winning bid has participated in more auctions than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

11. A method comprising:

receiving, via a processor in an electronic auction system, bids for an item, in which each bid comprises a bid amount and an identity of the bidder, in which at least one bid is a smart bid that automatically outbids all other bids by an incremental amount until a maximum amount is reached;

generating, via the processor, an animated character that appears on a monitor of a bidder'"'"'s workstation, in which the animated character announces a current status of the received bids,

in which the animated character announces;

a start time and end time for the electronic auction;

a minimum bid

amount for the item;

a minimum incremental amount for each bid; and

an amount of a current highest bid;

computing, via the processor after an auction period, a winning bid from among the received bids;

computing, via the processor, that a bidder of the winning bid has submitted more bids to the electronic auction system than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period; and

transmitting, via the processor, an indication of the winning bid to a remote device that is in electronic communication with the processor over a network.

12. The method of claim 11 further comprising:

based on previous items which were bid for or purchased by a bidder, searching for additional items that are available to purchase on the electronic auction system; and

displaying the additional items on the bidder'"'"'s workstation.

13. The method of claim 11 further comprising:

in response to receiving a request to rescind a previously submitted bid before the auction period has ended, rescinding the previously submitted bid.

14. An apparatus comprising:

a processor; and

a memory, in which the memory stores instructions which, when executed by the processor, direct the processor to;

receive, an electronic auction system, bids for an item, in which each bid comprises a bid amount and an identity of the bidder, in which at least one bid is a smart bid that automatically outbids all other bids by an incremental amount until a maximum amount is reached;

generate an animated character that appears on a monitor of a bidder'"'"'s workstation, in which the animated character announces a current status of the received bids, in which the animated character announces;

a start time and end time for the electronic auction;

a minimum bid amount for the item;

a minimum incremental amount for each bid; and

an amount of a current highest bid;

after an auction period has ended, compute a winning bid from among the received bids, in which the winning bid has a highest bid amount at the end of the auction period; and

transmit an indication of the winning bid.

15. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

receive an indication of a reserve price for the item, in which any bids with a bid amount that falls below the reserve price is automatically rejected.

16. The apparatus of claim 14, in which the animated character informs the bidder that his bid has been outbid by another bid.

17. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

compute that the winning bid was submitted before at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

18. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

compute that a bidder of the winning bid has submitted more bids to the electronic auction system than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

19. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

compute that a bidder of the winning bid has participated in more auctions than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

20. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

based on previous items which were bid for or purchased by a bidder, search for additional items that are available to purchase on the electronic auction system; and

display the additional items on the bidder'"'"'s workstation.

21. The apparatus of claim 14, in which the memory further stores instructions, which when executed by the processor, direct the processor to:

in response to receiving a request to rescind a previously submitted bid before the auction period has ended, rescind the previously submitted bid.

22. An article of manufacture

comprising:

a tangible, non-transitory computer-readable medium that stores instructions which, when executed by a computing device, direct the computing device to;

receive, in an electronic auction system, bids for an item, in which each bid comprises a bid amount and an identity of the bidder, in which at least one bid is a smart bid that automatically outbids all other bids by an incremental amount until a maximum amount is reached;

generate an animated character that appears on a monitor of a bidder'"'"'s workstation, in which the animated character announces a current status of the received bids,

in which the animated character announces;

a start time and end time for the electronic auction;

a minimum bid amount for the item;

a minimum incremental amount for each bid;

and an amount of a current highest bid;

compute, after expiration of an auction period. a winning bid from among the received bids; and

transmit an indication of the winning bid.

23. The article of manufacture of claim 22, in which the computer-readable medium stores instructions which, when executed by the processor further direct the processor to:

based on previous items which were bid for or purchased by a bidder, search for additional items that are available to purchase on the electronic auction system; and

displaying the additional items on the bidder'"'"'s workstation.

24. The article of manufacture of claim 22, in which the computer-readable medium stores instructions which, when executed by the processor further direct the processor to:

in response to receiving a request to rescind a previously submitted bid before the auction period has ended, rescind the previously submitted bid.

25. The article of manufacture of claim 22, in which the computer-readable medium stores instructions which, when executed by the processor further direct the processor to:

compute that the winning bid was submitted before at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

26. The article of manufacture of claim 22, in which the computer-readable medium stores instructions which, when executed by the processor further direct the processor to:

compute that a bidder of the winning bid has submitted more bids to the electronic auction system than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.

27. The article of manufacture of claim 22, in which the computer-readable medium stores instructions which, when executed by the processor further direct the processor to:

compute that a bidder of the winning bid has participated in more auctions than a bidder of at least one other bid, in which the at least one other bid also has the highest bid amount at the end of the auction period.