Dynamically determining bid increments for online auctions

• US 9,947,041 B2
• Filed: 12/17/2012
• Issued: 04/17/2018
• Est. Priority Date: 12/17/2012
• Status: Active Grant

• Current Assignee: Ten-X, LLC
• Original Assignee: Ten-X, LLC
• Inventors: Friedman, Robert
• Primary Examiner(s): PALAVECINO, KATHLEEN GAGE
• Application Number:
  US13/717,656
• Publication Number:
  US 20140172614A1
• Time in Patent Office: 1,947 Days
• Field of Search: None
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

Bidding activity is analyzed over a duration in which multiple bids are received in the auction. A bid increment is dynamically determined for the auction in response to auction activity. An online auction system can utilize the bid increment to determine or suggest the next bid that can be received in the auction for purpose of supplanting the current bid.

Claims

1. A method for presenting a dynamic auction webpage for an online auction, the method being performed by a network system and comprising:

communicating over a network with a user device to cause the user device to present a dynamic auction webpage that includes a bidder interface that enables a user of the user device to bid on an asset associated with the dynamic auction webpage;

causing the bidder interface to display bidding parameters including a current bid, a next bid, and a current bid increment, wherein the next bid is based on the current bid and the current bid increment;

conducting the online auction in accordance with a set of auction rules, including a subset of default rules, under a first mode in which a default bid increment indicated by the subset of default rules is implemented for the online auction as the current bid increment;

in response to detecting a predetermined condition, determining to conduct conducting the online auction under a second mode by;

while the online auction is being conducted, determining an indicator of interest in the online auction based at least in part on activity data associated with the online auction, including a page view count maintained by the network system for the dynamic auction webpage;

determining an updated bid increment that is deemed more optimal than the default bid increment based on the indicator of interest and the set of auction rules;

in response to determining the updated bid increment, overriding the default bid increment indicated by the subset of default rules and implementing the updated bid increment as the current bid increment for the online auction; and

dynamically updating the bidder interface displayed on the dynamic auction webpage to reflect the implementation of the updated bid increment as the current bid increment, including updating the bidding parameters for a subsequent bid to be submitted via the bidding interface.

2. The method of claim 1, wherein determining the updated bid increment is performed at multiple instances during a duration in which the online auction is in progress.

3. The method of claim 2, wherein determining the updated bid increment is performed after each instance when a new bid is received.

4. The method of claim 1, wherein the predetermined condition is based on a determination of a particular set of auction activities.

5. The method of claim 1, wherein the predetermined condition corresponds to a determination that a designated duration of time has passed from when the online auction was initiated.

6. The method of claim 1,

wherein determining the indicator of interest includes determining a number of bids that are received in a given duration, and

wherein determining the updated bid increment includes determining to either increase or decrease the default bid increment based at least in part on the indicator of interest and a number of bids received in a given duration.

7. The method of claim 6, wherein determining the updated bid increment includes determining to either increase or decrease the default bid increment based at least in part on a number of bidders that are participating in the online auction at a given instance or over a given duration.

8. The method of claim 6, wherein determining the updated bid increment includes determining to either increase or decrease the default bid increment based at least in part on a bid velocity of bids received over a given duration.

9. The method of claim 6, wherein determining the updated bid increment includes determining to either increase or decrease the default bid increment based at least in part on a reserve price or desired price for the asset associated with the dynamic auction webpage.

10. The method of claim 6, wherein determining the updated bid increment includes determining to either increase or decrease the default bid increment based at least in part on a type of the asset associated with the dynamic auction webpage.

11. The method of claim 1, wherein communicating over a network with the user device includes communicating with the user device that to cause the user device to render the dynamic auction webpage within an application executing on the user device.