Method for conducting a computerized government auction

  • US 6,947,906 B1
  • Filed: 05/30/2000
  • Issued: 09/20/2005
  • Est. Priority Date: 05/30/2000
  • Status: Expired due to Fees
First Claim
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1. A tiered method for automatically auctioning an asset over a computer network comprising a plurality of computers in communication with one another, the asset comprising government surplus or excess, the tiered method comprising the steps of:

  • (a) storing in computer memory buyer information for a plurality of potential buyers, the buyer information for each of the plurality of potential buyers including a buyer profile code;

    (b) retrieving from computer memory asset information for the asset to be auctioned, the asset information including a first asset restriction;

    (c) retrieving from computer memory the buyer profile codes from the plurality of potential buyers;

    (d) comparing the first asset restriction with the buyer profile codes and determining a first group of authorized bidders from the potential buyers having a buyer profile code matching the first asset restriction;

    (e) notifying only the first group of authorized bidders of the asset for auction;

    (f) conducting a first tier auction, the first tier auction comprising;

    (1) presenting the asset for auction only to the first group of authorized bidders;

    (2) receiving bids from the first group of authorized bidders; and

    (3) concluding the first tier auction at least upon expiration of a first specified time period;

    (g) automatically performing a second tier auction if an outcome of the first tier auction is that the asset remains available, performing the second tier auction comprising the additional steps of;

    (1) assigning a second asset restriction to the asset,(2) retrieving from computer memory the buyer profile codes from the plurality of potential buyers;

    (3) comparing the second asset restriction with the buyer profile codes and determining a second group of authorized bidders from the potential buyers having a buyer profile code matching the second asset restriction;

    (4) presenting the asset for auction only to the second group of authorized bidders; and

    (5) receiving bids from the second group of authorized bidders and concluding the second tier auction at least upon expiration of a second specified time period.

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