Systems and methods for automated internet-based auctions

• US 11,188,979 B2
• Filed: 06/24/2019
• Issued: 11/30/2021
• Est. Priority Date: 03/31/2003
• Status: Expired due to Term

• 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:
  US16/449,548
• Publication Number:
  US 20190311426A1
• Time in Patent Office: 890 Days
• Field of Search: None
• 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 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 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:

controlling, by at least one processor;

receiving, over a communication network, a plurality of electronic messages comprising a plurality of bids from a plurality of remote computers in an electronic auction session, in which at least one bid is a given smart bid that, for a same given item available for bidding, automatically outbids all other bids by an incremental amount until a maximum bid amount authorized by the bidder is reached in the auction session, in which the incremental amount is a function of a variable factor and determined in a predetermined manner to provide for a valid bid by the bidder at the maximum bid amount authorized;

displaying, over the communication network, an interface screen at a display of one of the plurality of remote computers during the electronic auction session, the interface screen simultaneously comprising;

an image depicting an animated character announcing information relating to the electronic auction session,

indicia of an item available for bidding,

a bid indicia selectable for placing a bid, and

a smart bid indicia selectable for placing a smart bid, in which the smart bid indicia is different and separate from the bid indicia; and

after an auction period has ended, determining a winning bid from among the received bids, in which the winning bid is the smart bid; and

displaying, over the communication network, at the interface screen of at least one first of the plurality of remote computers an indication of the winning bid.

2. The method of claim 1, in which each bid comprises an identity of a bidder, and in which the interface screen further simultaneously comprises indicia of a time associated with the electronic auction session.

3. The method of claim 1, in which the information relating to the electronic auction session comprises at least one of:

a status of the received bids;

a start time and end time for the electronic auction session;

a minimum bid amount for the item;

or

a minimum incremental amount for each bid.

4. The method of claim 1, in which the animated character appears at a workstation of a bidder.

5. The method of claim 4, in which the bidder is a potential bidder.

6. The method of claim 4, in which the bidder has the winning bid.

7. The method of claim 4, in which the animated character provides at least one instruction on processing the winning bid.

8. The method of claim 1 further comprising:

controlling, by the at least one processor, receiving an indication of a reserve price for the item, in which any bid with a bid amount that falls below the reserve price is automatically rejected.

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

10. The method of claim 1, further comprising:

controlling, by the at least one processor;

transmitting, over the communication network, to a remote device, the indication of the winning bid;

receiving, before expiration of the auction period, electronic data comprising a request to rescind a previously submitted bid; and

rescinding the previously submitted bid.

11. The method of claim 1, in which the variable factor is based on at least one of an improvement level selected by a bidder or assigned by default, a current highest bid or a maximum amount authorized by the bidder.

12. An apparatus comprising:

at least one processor configured to control;

receiving, over a communication network, a plurality of electronic messages comprising a plurality of bids from a plurality of remote computers in an electronic auction session, in which at least one bid is a given smart bid that, for a same given item available for bidding, automatically outbids all other bids by an incremental amount until a maximum bid amount authorized by the bidder is reached in the auction session, in which the incremental amount is a function of a variable factor and determined in a predetermined manner to provide for a valid bid by the bidder at the maximum bid amount authorized;

displaying, over the communication network, an interface screen at an electronic display of one of the plurality of remote computers during the electronic auction session, the interface screen simultaneously comprising;

an image depicting an animated character announcing information relating to the electronic auction session,

indicia of an item available for bidding,

a bid indicia selectable for placing a bid;

a smart bid indicia selectable for placing a smart bid, in which the smart bid indicia is different and separate from the bid indicia; and

after an auction period has ended, determining a winning bid from among the received bids, in which the winning bid is the smart bid; and

displaying, over the communication network, at the interface screen of at least one first of the plurality of remote computers an indication of the winning bid.

13. The apparatus of claim 12, in which each bid comprises an identity of a bidder, and in which the interface screen further simultaneously comprises indicia of a time associated with the electronic auction session.

14. The apparatus of claim 12, in which the information relating to the electronic auction session comprises at least one of:

a status of the received bids;

a start time and end time for the electronic auction session;

a minimum bid amount for the item;

or

a minimum incremental amount for each bid.

15. The apparatus of claim 12, in which the animated character appears at a workstation of a bidder.

16. The apparatus of claim 15, in which the bidder is a potential bidder.

17. The apparatus of claim 15, in which the bidder has the winning bid.

18. The apparatus of claim 15, in which the animated character provides at least one instruction on processing the winning bid.

19. The apparatus of claim 12, wherein the at least one processor is configured to control:

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.

20. The apparatus of claim 12, wherein the at least one processor is configured to control:

receiving, before expiration of the auction period, a request to rescind a previously submitted bid; and

rescinding the previously submitted bid.