Digital online exchange for pricing items to exhaust inventory by an expiration time

CAFC
  • US 8,112,303 B2
  • Filed: 10/31/2007
  • Issued: 02/07/2012
  • Est. Priority Date: 02/28/2001
  • Status: Expired due to Fees
First Claim
Patent Images

1. A dynamic pricing system for pricing items for sale by a seller which items are available in a limited quantity, the system comprising:

  • a pricing server including a memory, a processor and a clock;

    data stored in the memory indicative of an initial quantity of items available in a limited quantity;

    data stored in the memory indicative of a current remaining quantity of the items available in a limited quantity;

    data stored in the memory of an expiration time at which it is desired that all of the items available in a limited quantity be sold;

    wherein the processor is configured to control a rate of sale in order to sell out the items available in a limited quantity at or near the expiration time and to price the items available in a limited quantity so as to deplete an inventory of the items available in a limited quantity at or near the expiration time based in part by accessing the memory to retrieve the data indicative of the initial quantity, the current remaining quantity and the expiration time and accessing the clock;

    wherein the processor is configured to increase the price of the items available in a limited quantity when the data stored in the memory indicates that inventory of the items available in a limited quantity based on prior sales history is likely to be exhausted prior to the expiration time; and

    wherein the processor is configured to decrease the price of the items when the data stored in the memory indicates that at least some of remaining inventory of the items available in a limited quantity based on prior sales history is likely to exist at the expiration time.

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