Auction overbidding vigilance tool

• US 9,076,181 B2
• Filed: 11/15/2011
• Issued: 07/07/2015
• Est. Priority Date: 09/21/2011
• Status: Expired due to Fees

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Bhogal, Kulvir Singh, Hamilton, Rick Allen II, Kozloski, James Robert, Pickover, Clifford Alan
• Primary Examiner(s): STOPP, COURTNEY L
• Application Number:
  US13/296,462
• Publication Number:
  US 20130073411A1
• Time in Patent Office: 1,330 Days
• Field of Search: 705/26.1, 705/27.1, 705/26.3
• US Class Current: 1/1
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Vigilance monitoring and a navigation aid are provided to a user in an electronic auction by receiving by a computer a command to watch similar items to a first item in an online or electronic auction; extracting by a computer from the command, from the auction, or from both the command and the auction one or more item descriptive parameters; using by a computer the extracted parameters to query one or more online or electronic sales sources for similar items matching the extracted parameters, the sales sources being electronic sources other than the auction; receiving by a computer at least one price for an available similar item from at least one sales source; and causing prompting by a computer a user of the auction with the similar item price and sales source.

Claims

1. A method for preventing overbidding by a user in an electronic auction comprising:

receiving by a computer from a user'"'"'s console a command to monitor an first item with a link to a listing for the first item in an online auction by an online auction server;

extracting by a computer from an electronic auction server one or more item descriptive parameters of the first item from an online listing of the electronic auction server;

throughout a window of auction for the first item;

using by a computer the extracted parameter to query one or more electronic sales servers for alternative items matching the extracted parameters, wherein the sales servers comprise servers other than the electronic auction server;

monitoring in real-time by a computer at least one current price for at least one matching alternative item from the one or more sales servers;

monitoring in real-time a pace of bidding in the electronic auction on the first item; and

responsive detecting the pace being increased by a predetermined threshold and a current bid price in the electronic auction meeting or exceeding the monitored current price for at least one matching alternative item;

providing to a first user on a computer interface a bidding frenzy alert; and

disabling all automatic bidding on behalf of the first user by issuing a restraint signal to an automatic bidding agent of the electronic auction server, thereby preventing automatic overbidding on the first item on behalf of the user and reducing computational resource demand of the electronic auction server to handle the restrained bids.

2. The method as set forth in claim 1 further comprising providing by a computer a user-selectable navigation control to automatically navigate the user'"'"'s console to the sales source and a listing for the similar item.

3. The method as set forth in claim 2 wherein the navigation control comprises a hyperlink.

4. The method as set forth in claim 1 further comprising providing a vigilance panel on the user console.

5. The method as set forth in claim 1 further comprising:

summing by a computer a convenience offset value with the at least one price for the alternative item; and

responsive to a bid value exceeding the sum prompting the user regarding the alternative item from the sales server.

6. The method as set forth in claim 1 further comprising:

performing by a computer an analysis of historical sales values of at least one alternative item; and

prompting of the user regarding the historical sales values, thereby informing the user of likely bidding success or failure according to historical sales data for similar items.

7. A computer program product for preventing overbidding by a user in an electronic auction comprising:

one or more tangible, computer readable memory devices excluding a propagating signal per se; and

one or more program instructions embodied by the one or more tangible, computer readable memory devices, configured to cause a computer processor to perform the operations of;

receiving by a computer from a user'"'"'s console a command to monitor an first item with a link to a listing for the first item in an online auction by an online auction server;

extracting by a computer from an electronic auction server one or more item descriptive parameters of the first item from an online listing of the electronic auction server;

throughout a window of auction for the first item;

using by a computer the extracted parameter to query one or more electronic sales servers for alternative items matching the extracted parameters, wherein the sales servers comprise servers other than the electronic auction server;

monitoring in real-time by a computer at least one current price for at least one matching alternative item from the one or more sales servers;

monitoring in real-time a pace of bidding in the electronic auction on the first item; and

responsive detecting the pace being increased by a predetermined threshold and a current bid price in the electronic auction meeting or exceeding the monitored current price for at least one matching alternative item;

providing to a first user on a computer interface a bidding frenzy alert; and

disabling all automatic bidding on behalf of the first user by issuing a restraint signal to an automatic bidding agent of the electronic auction server, thereby preventing automatic overbidding on the first item on behalf of the user and reducing computational resource demand of the electronic auction server to handle the restrained bids.

8. The computer program product as set forth in claim 7 wherein the program instructions further comprise program instructions to provide a user-selectable navigation control to automatically navigate the user'"'"'s console to the sales source and a listing for the similar item.

9. The computer program product as set forth in claim 8 wherein the navigation control comprises a hyperlink.

10. The computer program product as set forth in claim 7 wherein the program instructions further comprise program instructions for providing a vigilance panel on the user display in proximity to a display associated with the auction.

11. The computer program product as set forth in claim 7 wherein the program instructions further comprise program instructions for:

summing a convenience offset value with the at least one price for the alternative item; and

responsive to a bid value exceeding the sum prompting the user regarding the alternative item from the sales server.

12. The computer program product as set forth in claim 7 wherein the program instructions further comprise program instructions to:

perform an analysis of historical sales values of at least one of the alternative similar items; and

prompt the user regarding the historical sales values, thereby informing the user of likely bidding success or failure according to historical sales data for similar items.

13. A system for preventing overbidding by a user in an electronic auction comprising:

a computer processor;

one or more tangible, computer readable memory devices excluding a propagating signal per se; and

one or more program instructions embodied by the one or more tangible, computer readable memory devices, configured to cause the computer processor to perform the operations of;

receiving by a computer from a user'"'"'s console a command to monitor an first item with a link to a listing for the first item in an online auction by an online auction server;

extracting by a computer from an electronic auction server one or more item descriptive parameters of the first item from an online listing of the electronic auction server;

throughout a window of auction for the first item;

using by a computer the extracted parameter to query one or more electronic sales servers for alternative items matching the extracted parameters, wherein the sales servers comprise servers other than the electronic auction server;

monitoring in real-time by a computer at least one current price for at least one matching alternative item from the one or more sales servers;

monitoring in real-time a pace of bidding in the electronic auction on the first item; and

responsive detecting the pace being increased by a predetermined threshold and a current bid price in the electronic auction meeting or exceeding the monitored current price for at least one matching alternative item;

providing to a first user on a computer interface a bidding frenzy alert; and

disabling all automatic bidding on behalf of the first user by issuing a restraint signal to an automatic bidding agent of the electronic auction server, thereby preventing automatic overbidding on the first item on behalf of the user and reducing computational resource demand of the electronic auction server to handle the restrained bids.

14. The system as set forth in claim 13 wherein the program instructions further comprise program instructions to automatically navigate the user'"'"'s console to the sales source and a listing for the similar item.

15. The system as set forth in claim 14 wherein the navigation control comprises a hyperlink.

16. The system as set forth in claim 13 wherein the program instructions further comprise program instructions for providing a vigilance panel on the user display.

17. The system as set forth in claim 13 wherein the program instructions further comprise program instructions for:

summing a convenience offset value with the at least one price for the alternative item; and

responsive to a bid value exceeding the sum prompting of a user regarding the alternative item from the sales server.

18. The system as set forth in claim 13 wherein the program instructions further comprise program instructions for:

performing an analysis of historical sales values of at least one of the alternative items; and

prompting of the user regarding the historical sales values, thereby informing the user of likely bidding success or failure according to historical sales data for similar items.