System and method for determining vehicle price adjustment values

• US 8,600,823 B1
• Filed: 08/19/2009
• Issued: 12/03/2013
• Est. Priority Date: 11/26/2003
• Status: Expired due to Fees

• Current Assignee: CARFAX Incorporated (S&P Global Inc.)
• Original Assignee: CARFAX Incorporated (S&P Global Inc.)
• Inventors: Raines, Richard T., Ayrault, Renan
• Primary Examiner(s): ZURITA, JAMES H
• Application Number:
  US12/543,918
• Time in Patent Office: 1,567 Days
• Field of Search: 705/26.1, 705/27.1
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

System and method for computing price adjustment values associated with vehicle history attributes including a vehicle history database with vehicle history datasets, a transaction database, a vehicle history knowledge determination module adapted to determine whether a sale transaction related to a transaction record occurred with buyer'"'"'s knowledge of the vehicle history attributes associated with the vehicle of the transaction record and to classify each transaction record based on whether buyer possessed knowledge of the vehicle history attributes, and a price adjustment module adapted to determine price adjustment values for the vehicle history attributes based on the vehicle history datasets and classification of the plurality of transaction records. In accordance with one aspect, the present invention may be implemented as a computer readable medium with instructions.

Claims

1. A vehicle history information system adapted to generate price adjustment values associated with vehicle history attributes comprising:

at least one processor;

at least one memory device;

a communication device interface;

a vehicle history database having a plurality of vehicle history datasets related to a plurality of vehicles, each vehicle history dataset being related to a particular vehicle and having at least one vehicle history attribute regarding said vehicle;

a transaction database having a plurality of transaction records related to sale transactions of said plurality of vehicles, each transaction record being related to a particular vehicle and including at least a transaction date and a transaction price;

a plurality of modules borne by the at least one memory device and executable on the at least one processor, said plurality of modules including;

a vehicle history knowledge determination module adapted to determine whether a sale transaction related to a transaction record occurred with buyer'"'"'s knowledge of said at least one vehicle history attribute associated with said vehicle of said transaction record, and to classify each transaction record based on buyer'"'"'s knowledge of said at least one vehicle history attribute; and

a price adjustment module adapted to determine a price adjustment value for said at least one vehicle history attribute based on said vehicle history datasets and further based on said classification of said plurality of transaction record using said buyer'"'"'s knowledge of said at least one vehicle history attribute.

2. A non-transitory computer readable medium for computing price adjustment values associated with vehicle history attributes comprising:

instructions, borne by the non-transitory computer readable medium, for obtaining a plurality of transactional records relating to sale transactions of a plurality of vehicles, each sale transaction including a buyer;

instructions, borne by the non-transitory computer readable medium, for analyzing whether each sale transaction related to a respective transaction record occurred with the buyer'"'"'s knowledge of vehicle history attributes associated with a respective vehicle purchased by the buyer;

instructions, borne by the non-transitory computer readable medium, for classifying said plurality of transaction records based on respective buyer'"'"'s knowledge of said vehicle history attributes; and

instructions, borne by the non-transitory computer readable medium, for determining price adjustment values for a plurality of vehicle history attributes based at least in part on said classification of said plurality of transaction records using said buyer'"'"'s knowledge of said at least one vehicle history attribute.