Buyer-side auction dynamic pricing agent, system, method and computer program product

  • US 20020038282A1
  • Filed: 09/27/2001
  • Published: 03/28/2002
  • Est. Priority Date: 09/27/2000
  • Status: Active Grant
First Claim
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1. A method for automating an interaction between a buyer and an electronic, variable, dynamic pricing online auction service comprising of the steps of:

  • a. receiving a registration of a buyer at an Internet, web-enabled, buyer bidding application site (site) by creating logon credentials that are used to authenticate and authorize the buyer'"'"'s access to the site, a portfolio of the buyer, and account information of the buyer, wherein the logon credentials are provided by an independent 3rd party through a logon agent using at least one of proxied identification and digital certificates;

    b. receiving entered information about financial transaction instruments of the buyer, contact information including at least one of a telephone number, an email address, and a physical mail address, and product preferences into an auction profile of the buyer;

    c. receiving a search query from the buyer for a desired product from the product auctions of a plurality of auction sites including at least one of keywords, model identification, brand identification, synonyms, and unique identification, using at least one of a search agent and a meta-search agent, and providing returned auctions, including retrieving current status of the product auctions and presenting the current status to the buyer;

    receiving a selection of one or more of the returned auctions to store in the portfolio of the buyer for tracking by one or more scan agents and for bidding by one or more bid proxies;

    d. receiving selections of a plurality of product auctions of the returned auctions and placing the plurality of product auctions into the portfolio for use by a cascaded bid proxy;

    e. providing monitoring by the one or more scan agents of temporal progression of the plurality of product auctions, and notifying the Buyer via a messaging center of any changes in relevant aspects of the current status of any of the plurality of product auctions that would prevent an initial bid from being placed by the bid proxy;

    f. enabling activation of the one or more bid proxies as any completing auction that nears completion of the plurality of product auctions, to begin placing one or more bids until the completing auction is either won or lost by time of auction closing, including enabling interaction between the scan agent and the bid proxy to place the bid of the buyer as close to the time of auction closing as possible and to confirm that a counter-offer has not out-bid a most recent bid of the Buyer;

    g. computing and executing another valid higher bid that is within the bid parameters, if the counter-offer has been made and accepted by the auction site that is higher than the most recent bid detected by the scan agent.

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