Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items
First Claim
1. A method comprising:
- receiving, by a computer system from a first remote device, a first order to trade at least one first luxury item from a first user, wherein the first order specifies that the at least one first luxury item has a plurality of respective first values for each characteristic of a set of characteristics defined by a standard luxury item profile, in which the first luxury item includes at least one diamond, and in which the standard luxury item profile includes at least one of a color, cut, and clarity;
receiving, by the computer system from a second remote device, a second order to trade at least one second luxury item from a second user, wherein the second order specifies that the at least one second luxury item has a plurality of respective second values for each characteristic of a set of characteristics defined by the standard luxury item profile, in which the second values are different form the first values, in which the second luxury item includes at least one diamond;
communicating, from the computer system, the first and second orders to at least one other user of a third remote device;
receiving, by the computer system, a counter-side order to at least one of the first order and the second order from the at least one other user of the third remote device; and
executing, by the computer system, a trade fulfilling at least one of the first order and the second order at a price that is identifiable based on at least one of the first order, the second order and the counter-side order.
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Accused Products
Abstract
Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items are provided. These systems and methods preferably include the trading of futures and options contracts, which will provide the liquidity and distribution network for luxury items. Possible embodiments of these systems and methods include the trading of futures and options contracts for diamonds and wine. Another embodiment of this invention preferably includes generating indexes for diamond prices, wine prices, luxury item prices, housing values, mortgage prepayments, privately-held companies or for anything with from sufficiently liquid points of value. Another embodiment of this invention preferably includes a centralized data base for retrieving closing and current auction prices for determining the value of, and best method for the auctioning of various items. The data provided by this data base would improve liquidity by creating greater price transparency.
39 Citations
17 Claims
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1. A method comprising:
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receiving, by a computer system from a first remote device, a first order to trade at least one first luxury item from a first user, wherein the first order specifies that the at least one first luxury item has a plurality of respective first values for each characteristic of a set of characteristics defined by a standard luxury item profile, in which the first luxury item includes at least one diamond, and in which the standard luxury item profile includes at least one of a color, cut, and clarity; receiving, by the computer system from a second remote device, a second order to trade at least one second luxury item from a second user, wherein the second order specifies that the at least one second luxury item has a plurality of respective second values for each characteristic of a set of characteristics defined by the standard luxury item profile, in which the second values are different form the first values, in which the second luxury item includes at least one diamond; communicating, from the computer system, the first and second orders to at least one other user of a third remote device; receiving, by the computer system, a counter-side order to at least one of the first order and the second order from the at least one other user of the third remote device; and executing, by the computer system, a trade fulfilling at least one of the first order and the second order at a price that is identifiable based on at least one of the first order, the second order and the counter-side order. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. An apparatus comprising:
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a memory having stored thereon a plurality of instructions that when executed by a processor causes the processor to perform a method comprising; receiving a first order to trade at least one first luxury item from a first user, wherein the first order specifies that the at least one first luxury item has a plurality of respective first values for each characteristic of a set of characteristics defined by a standard luxury item profile, in which the first luxury item includes at least one diamond, and in which the standard luxury item profile includes at least one of a color, cut, and clarity; receiving a second order to trade at least one second luxury item from a second user, wherein the second order specifies that the at least one second luxury item has a plurality of respective second values for each characteristic of a set of characteristics defined by the standard luxury item profile, in which the second values are different form the first values, in which the second luxury item includes at least one diamond; receiving an indication to trade in at least one of the first order and the second order; and executing a trade fulfilling at least one of the first order and the second order at a price that is identifiable based on at least one of the first order, the second order and the counter-side order. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17)
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Specification