System and Method For Buying and Selling Event Tickets

• US 20080162211A1
• Filed: 05/09/2006
• Published: 07/03/2008
• Est. Priority Date: 05/09/2005
• Status: Abandoned Application

• Current Assignee: Don W. Addington
• Original Assignee: Don W. Addington
• Inventors: Addington, Don W.
• Application Number:
  US11/911,640
• Publication Number:
  US 20080162211A1
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 30/0252 based on events or environment, e.g. weather or festivals
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method are provided for facilitating the buying and selling of event tickets. The system and method disclosed herein includes a system and method for valuing and selling unsold tickets shortly before and/or during the event. Embodiments disclosed herein allow users to interact with a ticket trading system via telephone or internet in order to search for tickets available for sale. The disclosed system and method can incrementally adjust the prices of the available tickets according to one or more demand variables having values that reflect various demand indicators. The values of the demand variables can be established based on demand indicators evaluated shortly before and/or during the event.

Claims

1. A computer-implemented trading system for facilitating the buying and selling of tickets to events, the system comprising one or more processors configured to:

receive a request from a user for availability information for a ticket to an event;

conduct a search of a database for an available ticket to the event; and

determine whether the ticket can be sold based on a rule for restricting ticket sales to a period of time that begins shortly before the beginning of the event and continues during the event.

2. The system of claim 1, wherein the event is selected from the group consisting of a sporting event, a concert event, a theater event, and a family-entertainment event.

3. The system of claim 1, wherein the rule for restricting ticket sales allows tickets to begin being offered for sale at a predetermined amount of time before the event is expected to begin.

4. The system of claim 3, wherein the predetermined amount of time is no more than seventy-two hours.

5. The system of claim 1, wherein the rule for restricting ticket sales allows tickets to begin being offered for sale until the event is expected to end.

6. The system of claim 1, wherein the one or more processors are further configured to calculate a price of the ticket based at least in part on at least one of (a) an amount of time until the event is expected to begin, (b) an amount of time that has elapsed since the beginning of the event, and (c) an amount of time remaining until the event is expected to end.

7. A computer-implemented method of facilitating the buying and selling of tickets to events, the method comprising:

receiving a request from a user for availability information for a ticket to an event;

conducting a search of a database for an available ticket to the event; and

determining whether the ticket can be sold based on a rule for restricting ticket sales to a period of time that begins shortly before the beginning of the event and continues during the event.

8. The method of claim 7, wherein the event is selected from the group consisting of a sporting event, a concert event, a theater event, and a family-entertainment event.

9. The method of claim 7, wherein the rule for restricting ticket sales allows tickets to begin being offered for sale at a predetermined amount of time before the event is expected to begin.

10. The method of claim 9, wherein the predetermined amount of time is no more than seventy-two hours.

11. The method of claim 7, wherein the rule for restricting ticket sales allows tickets to begin being offered for sale until the event is expected to end.

12. The method of claim 7, further comprising calculating a price of the ticket based at least in part on at least one of (a) an amount of time until the event is expected to begin, (b) an amount of time that has elapsed since the beginning of the event, and (c) an amount of time remaining until the event is expected to end.

13. A computer-implemented trading system for facilitating the buying and selling of tickets to events, the system comprising one or more processors configured to:

receive a request from a user for availability information for a ticket to an event;

conduct a search of a database for an available ticket to the event; and

calculate a price for the ticket based at least in part on a value of at least one demand variable, wherein the value of the demand variable is established during a period of time that begins shortly before the beginning of the event and continues during the event.

14. The system of claim 13, wherein the price for the ticket is based at least in part on an amount of time until the beginning of the event.

15. The system of claim 13, wherein the price for the ticket is based at least in part on an amount of time that has elapsed since the beginning of the event.

16. The system of claim 13, wherein the price for the ticket is based at least in part on an amount of time until the event is expected to end.

17. The system of claim 13, wherein the price for the ticket is based at least in part on weather conditions shortly before or during the event.

18. The system of claim 13, wherein the price for the ticket is based at least in part on a volume of inquiries concerning tickets for the event during a specified time increment that occurs shortly before or during the event.

19. The system of claim 13, wherein the price for the ticket is based at least in part on a volume of sales of tickets to the event during a specified time increment that occurs shortly before or during the event.

20. The system of claim 13, wherein the period of time during which the value of the demand variable is established begins no more than seventy-two hours before the event is expected to begin.

21. The system of claim 13, wherein the period of time during which the value of the demand variable is established ends when the event is expected to end.

22. A computer-implemented method for facilitating the buying and selling of tickets to events, the method comprising:

receiving a request from a user for availability information for a ticket to an event;

conducting a search of a database for an available ticket to the event; and

calculating a price for the ticket based at least in part on a value of at least one demand variable, wherein the value of the demand variable is established during a period of time that begins shortly before the beginning of the event and continues during the event.

23. The method of claim 22, wherein the price for the ticket is based at least in part on an amount of time until the beginning of the event.

24. The method of claim 22, wherein the price for the ticket is based at least in part on an amount of time that has elapsed since the beginning of the event.

25. The method of claim 22, wherein the price for the ticket is based at least in part on an amount of time until the event is expected to end.

26. The method of claim 22, wherein the price for the ticket is based at least in part on weather conditions shortly before or during the event.

27. The method of claim 22, wherein the price for the ticket is based at least in part on a volume of inquiries concerning tickets for the event during a specified time increment that occurs shortly before or during the event.

28. The method of claim 22, wherein the price for the ticket is based at least in part on a volume of sales of tickets to the event during a specified time increment that occurs shortly before or during the event.

29. The method of claim 22, wherein the period of time during which the value of the demand variable is established begins no more than seventy-two hours before the event is expected to begin.

30. The method of claim 22, wherein the period of time during which the value of the demand variable is established ends when the event is expected to end.

31. A method of valuing tickets to an event, the method comprising:

determining at least one of (a) an amount of time that has elapsed since the beginning of the event, and (b) an amount of time until the event is expected to end; and

decreasing a value of a ticket to the event based on the thus determined amount of time.

32. The method of claim 31, wherein the value of the ticket is incrementally decreased as the amount of time that has elapsed since the beginning of the event increases.

33. The method of claim 31, wherein the value of the ticket is incrementally decreased as the amount of time until the event is expected to end decreases.

34. The method of claim 31, wherein the decreasing of the value of the ticket is further based on at least one of (a) a volume of inquiries concerning tickets to the event during a specified time increment, and (b) a volume of sales of tickets to the event during a specified time increment.

35. The method of claim 31, wherein the decreasing of the value of the ticket is further based on weather conditions shortly before or during the event.

36. The method of claim 31, further comprising offering the tickets for sale on a website, wherein the decreasing of the value of the ticket is further based on at least one of (a) a volume of arrivals to the website during a specified time increment, (b) a volume of inquiries on the website concerning tickets to the event during a specified time increment, and (c) a volume of sales of tickets via the website to the event during a specified time increment.

37. A method of adjusting ticket prices for an event, the method comprising:

determining a price for a ticket to the event;

performing one or more iterations of a pricing process that includes;

determining the value of one or more demand variables;

determining whether to change the price of the ticket to the event based on the thus determined values; and

if it is determined that the price should change, adjusting the price of the ticket based at least in part on the value of the one or more demand variables.

38. A method according to claim 37, wherein the step of performing one or more iterations of a pricing process comprises performing a plurality of iterations of the pricing process over a period of time that begins and ends before the beginning of the event.

40. A method according to claim 37, wherein the step of performing one or more iterations of a pricing process comprises performing a plurality of iterations of the pricing process over a period of time that begins before the beginning of the event and ends during the event.

41. A method according to claim 37, wherein the step of performing one or more iterations of a pricing process comprises performing a plurality of iterations of the pricing process over a period of time that begins and ends during the event.