US20050187859A1 - Online auction method and system facilitating the sale of multiple product units at prices varying with volume - Google Patents
Online auction method and system facilitating the sale of multiple product units at prices varying with volume Download PDFInfo
- Publication number
- US20050187859A1 US20050187859A1 US11/109,254 US10925405A US2005187859A1 US 20050187859 A1 US20050187859 A1 US 20050187859A1 US 10925405 A US10925405 A US 10925405A US 2005187859 A1 US2005187859 A1 US 2005187859A1
- Authority
- US
- United States
- Prior art keywords
- given
- bid
- buyer
- price
- seller
- Prior art date
- Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
- Abandoned
Links
Images
Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q30/00—Commerce
- G06Q30/06—Buying, selling or leasing transactions
- G06Q30/08—Auctions
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q30/00—Commerce
- G06Q30/02—Marketing; Price estimation or determination; Fundraising
- G06Q30/0283—Price estimation or determination
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q50/00—Systems or methods specially adapted for specific business sectors, e.g. utilities or tourism
- G06Q50/10—Services
- G06Q50/18—Legal services; Handling legal documents
- G06Q50/188—Electronic negotiation
Landscapes
- Business, Economics & Management (AREA)
- Engineering & Computer Science (AREA)
- Accounting & Taxation (AREA)
- Finance (AREA)
- Strategic Management (AREA)
- Development Economics (AREA)
- General Business, Economics & Management (AREA)
- Theoretical Computer Science (AREA)
- Marketing (AREA)
- Physics & Mathematics (AREA)
- Economics (AREA)
- General Physics & Mathematics (AREA)
- Tourism & Hospitality (AREA)
- Technology Law (AREA)
- Entrepreneurship & Innovation (AREA)
- Health & Medical Sciences (AREA)
- General Health & Medical Sciences (AREA)
- Human Resources & Organizations (AREA)
- Primary Health Care (AREA)
- Game Theory and Decision Science (AREA)
- Management, Administration, Business Operations System, And Electronic Commerce (AREA)
Abstract
An online auction system for auctioning off products includes a server system, plural buyer systems, and plural seller systems. The server system comprises a seller interface, a buyer interface, a price adjustment mechanism, and a bid manager. The seller interface performs an online bid setup process including obtaining, from a given seller system, price varying information and quantity information corresponding to the price varying information. The buyer interface communicates, to select buyer systems, bid information and product information, and accepts from a given buyer system a given quantity needed and a given bid. The price adjustment mechanism determines a given parity price for the given buyer, which varies according to the given quantity needed. The bid manager defines a given winning bid for the given buyer as a function of the given parity price and a rank of the given buyer in relation to other buyers.
Description
- 1. Reservation of Copyright.
- The disclosure of this patent document contains material which is subject to copyright protection. The copyright owner has no objection to the facsimile reproduction by anyone of the patent document or the patent disclosure, as it appears in the U.S. Patent and Trademark Office patent files or records, but otherwise reserves all copyright rights whatsoever.
- 2. Field of the Invention
- The present invention relates to certain types of online auction systems and methods for providing sellers and buyers a mechanism for selling and buying, respectively, products (goods or services) in unit quantities.
- 3. Description of Background Information
- Auctions are used to sell many types of products (goods and services), including land, commodities, art, food, money, work contracts, computers and automobile parts, to name just a small number. The goal of the seller using an auction process is to obtain the highest value possible in exchange for the good or service. Thus, goods and services are frequently given to the highest bidders so as to provide the seller with the most profit.
- Auctions provide sellers access to large quantities of buyers, without the seller having to set a fixed (sometimes arbitrary) price for its goods or services. The auction process can also save sellers time by avoiding negotiating prices individually with buyers.
- There are many different types of auction formats. Open auctions give buyers open access to the current bid price, and allow the buyers to proffer a counter-bid when they learn about the most recent highest bid. There are also silent and sealed-bid auctions. Auctions may also be categorized in terms of whether they conform to an ascending price scheme, or whether the price slowly drops until a buyer will come forward and purchase the good or service.
- Offline auctions may require buyers and sellers to meet at one or more regionalized or fragmented auction sites. This limits the ease with which buyers and sellers will be able to meet.
- Some offline auctions are not so region-limited and allow buyers access to participate in a bidding process through various communication channels. For example, a publication may be widely distributed in the form of electronic or printed media, and bidders may be able to send their bids to a central location, for example, by facsimile, mail, e-mail or telephone. Such systems, while centralized, still present certain inefficiencies in making information available to buyers, and in allowing buyers to send in their bids to the central auction facility.
- These and other limitations associated with offline auctions can limit the selection of products auctioned, discourage participation, and drive transaction costs up.
- In many cases, multiple layers of intermediaries exist between the original seller and the end-buyer.
- Online auctions address many of these problems associated with offline auctions. One type of online auction of increasing popularity is the Internet web-based e-auction. Many types of e-auction sites exist, such eBay, Amazon and OnSale. Sites such as these provide centralized trading communities for bringing together buyers and sellers. These systems allow real-time listing, browsing, and bidding through one commonly-accessed system. Such activities may take place from any personal computer having Internet access anywhere throughout the world. Many sites specialize in particular types of seller-buyer trading, e.g., person-to-person (eBay), business-to-consumer (OnSale), or business-to-business (VerticalNet).
- Existing e-auction systems have databases which provide both buyers and sellers access to important information needed to analyze trading data and set prices. Access to these databases decreases inefficiencies associated with distributing and obtaining information and thus encourages trading activity.
- Online auctions employ many well-known auction methods, including such commonly used business-to-consumer or business-to-business auction formats as the multi-unit ascending auction described by Vickrey (1962) and Ortega-Reichert (1968). The YankeeAuction™ of OnSale.com uses a variation on the format disclosed by these Vickrey and Ortega-Reichert references. The YankeeAuction model involves a seller auctioning a quantity of identical units. Bidders select the number of units they need and the unit price they are willing to pay. Progressive bidding occurs for a specified period. At the close of the auction, the highest bid prices win at the respective bid quantities. Bids are ranked by unit price, then quantity, and then bid date. Accordingly, with the Yankee Auction, the highest bid wins. In case of ties, larger quantities win. For when the quantity is identical, earlier bids will take precedence.
- There are many types of products that sellers would prefer to sell in larger quantities. Thus, the sellers may give a substantial discount to the buyer purchasing a larger volume. This is particularly the case with the used computer market. Every year, global computer dealers sell billions of dollars worth of used computer systems and hardware.
FIG. 1 shows a typical supply chain for used computers. The majority of this equipment originates with computer manufacturers 32 (e.g., IBM, Dell, Compaq, Apple, Sun, and Cisco). Thesecomputer manufacturers 32 obtain the used computers from theirprevious owners 30 as lease returns and as trade-ins for upgrades. Thecomputer manufacturers 32 are faced with the logistical challenge and associated cost of warehousing this saleable stock. Accordingly, themanufacturers 32 auction the stock to resellers, comprisingwholesalers 34 anddealers 36.Dealers 36 then market the computers to end-users 38. - Manufactures typically sell their used PCs in enormous fixed-size lots of 1,000-10,000 units, that only a handful of resellers can afford to purchase. The resellers then resell the items in smaller quantities, charging higher prices per unit.
- There is a need for a centralized auction system or method which will minimize the transaction costs incurred by the seller and the buyer. The seller will preferably be able to quickly sell large quantities of products directly to buyers of all types while maximizing the total revenues generated from the sales.
- 4. Definition of Terms
- The following term definitions are provided to help the reader in understanding the terms used herein.
- Bid Increment: the incremental amount of money by which a buyer must increase a bid over a competing bid in order to win the bid.
- Maximum Parity Unit Price: This is a parity unit price which corresponds to the smallest allowable sublot quantity set by the seller.
- Minimum Sublot Quantity: this is the smallest sublot size which a buyer can purchase.
- Parity Unit Price: a price falling on the parity unity price curve, which represents the unit price needed to win a given bid as a function of quantity in accordance with a pricing model set by the seller.
- Reserve Unit Price (Current Reserve Price): unit price if a buyer purchases the total lot quantity.
- Sublot: a portion of a lot.
- Total Lot Quantity: the total quantity of units comprising a given lot to be auctioned off by a seller.
- Unit: a measure of goods or services being sold through the online auction. An example of a unit is one computer, an hour of professional services, or a dozen golf balls.
- Unit Bid Price: the amount of money a buyer bids per unit.
- The present invention is provided to improve upon systems for online auctioning of goods or services. In order to achieve this end, one or more aspects of the present invention may be followed in order to bring about one or more specific objects and advantages, such as those noted below.
- An object of the present invention is to allow sellers to sell goods or services in given lot quantities, by breaking up the lot into sublots, while charging a higher unit price for smaller sublots. An object of the present invention is to provide a mechanism by which the sellers can control the manner in which buyers are encouraged to purchase the units in higher volumes, by, e.g., controlling the extent to which higher volumes are discounted.
- A further object of the present invention is to provide a mechanism for allowing sellers to set up the parameters of a bid in a simple, time-efficient manner. A further object is to provide a bid/auction mechanism which minimizes the transaction cost incurred by the seller while maximizing the income received by the seller as well as the sales volume (allowing the seller to control costs related to warehousing and stocking products yet to be sold).
- The present invention, therefore, may be directed to a method or system, or one or more parts thereof, for facilitating the online interaction between product sellers and buyers. Such a method or system may involve the auctioning of goods or services, such as personal computers, through an online mechanism, such as an Internet website.
- In accordance with one aspect of the present invention, an online auction system is provided which comprises a server system, plural buyer systems, and plural seller systems. The server system comprises a seller interface, a buyer interface, a price adjustment mechanism, and a bid manager. The seller interface performs an online bid setup process including obtaining, from a given seller system, price varying information and quantity information corresponding to the price varying information. A buyer interface communicates, to select buyer systems, bid information and product information, and accepts from a given buyer system a given quantity needed, which a given buyer using the given buyer system desires to purchase. It also accepts a given bid from the given buyer system. The product information may comprise the quantity (in units) of goods or services. By way of example, the goods may comprise computer hardware/software systems, such as personal computers with pre-loaded software.
- The bid information may comprise bidding period information, such as auction start date/time and auction end date/time. The given bid is the amount the buyer is willing to pay for the given quantity needed.
- The price adjustment mechanism determines a given parity price for the given buyer which varies according to the given quantity needed. The parity price may comprise a unit parity price. A bid manager defines a given winning bid amount for the given buyer as a function of the given parity price and a rank of the given buyer in relation to other buyers.
- The bid manager may comprise a mechanism for quoting as the winning bid amount the given parity price when the given quantity needed is greater than a current high bid quantity. The current high bid quantity may comprise the current highest quantity bid at a parity price for that quantity. The bid manager may further comprise a mechanism for quoting as the winning bid amount a value equal to the given parity price plus a bid increment when a sum of the given quantity needed and the current high bid quantity is greater than the total remaining quantity for sale.
- The above and other objects, features, and advantages of the present invention are further described in the detailed description which follows, with reference to the drawings by way of non-limiting exemplary embodiments of the invention, wherein like reference numerals represent similar parts of the present invention throughout the several views and wherein:
-
FIG. 1 is a background art depiction of a typical supply chain; -
FIG. 2 is a system diagram of one embodiment of an online bidding system; -
FIG. 3 depicts a first embodiment of a seller screen; -
FIG. 4 depicts a second embodiment of a seller screen; -
FIG. 5 depicts a third embodiment of a seller screen; -
FIG. 6 is a graph of unit price versus quantity, where the unit price varies linearly with quantity; -
FIG. 7 is a graph of unit price versus quantity, where the quantity-unit price curve varies depending upon the price model specified by the seller; -
FIG. 8 is a graph of unit price versus quantity, illustrating a given curve which moves to increase the unit price in accordance with progressive bidding; -
FIG. 9 illustrates an embodiment of a buyer screen; -
FIG. 10 depicts a flowchart of a seller interface process in accordance with the illustrated embodiment; -
FIGS. 11A-11C depict a flowchart of a buyer interface process in accordance with the illustrated embodiment; and -
FIG. 12 depicts a flowchart of a process for defining the price to win a bid on a given needed quantity. - Referring now to the drawings in greater detail,
FIG. 2 depicts anonline bidding system 10 in accordance with one illustrated embodiment of the present invention. The illustratedonline bidding system 10 comprises aserver system platform 12 coupled to a database 11.Server system platform 12 comprises a unitprice adjustment mechanism 20, a bid manager 22, aseller interface 14, amemory 18, and abuyer interface 16. Unitprice adjustment mechanism 20 is coupled to bid manager 22. Each of bid manager 22,seller interface 14, andbuyer interface 16 is coupled to bid manager 22.Memory 18 is coupled to database 11.Buyer interface 16 is coupled aninternetwork 24, which, in the illustrated embodiment, comprises one or a combination of the Internet, a LAN (Local Area Network), and a WAN (World Area Network). Throughinternetwork 24,buyer interface 16 is coupled to a plurality ofbuyer systems 28.Seller interface 14 is coupled tointernetwork 24, and throughinternetwork 24, it is coupled to a plurality ofseller systems 26. In the illustrated embodiment, each ofbuyer systems 28 andseller systems 26 comprises a web client, while each ofbuyer interface 16 andseller interface 14 comprises, among other elements, a web server component which is compatible with the web clients. For example, the technology that is utilized may be consistent with Internet Explorer or NetScape web technology. - Bid manager 22 manages the overall bidding process, and coordinates the operation of
seller interface 14,buyer interface 16, and unitprice adjustment mechanism 20.Seller interface 14 comprises a process which handles the interaction betweenserver system platform 12 andseller systems 26.Buyer interface 16 handles the interaction betweenserver system platform 12 andbuyer systems 28. Unitprice adjustment mechanism 20 performs calculations to determine a unit price used to determine a price required to win a bid for a given bid quantity. -
Server system platform 12 may comprise one or a plurality of computers, and each of the components forming part ofserver system platform 12, i.e., bid manager 22, unitprice adjustment mechanism 20,seller interface 14,memory 18, and buyer interface 16 (and others not specifically shown—e.g., operating system components, applications, or other software that may also be running on the platform), may comprise processes operating within an operating system on the platform. The operating system may be a single operating system or distributed operating system. - Each of
buyer systems 28 andseller systems 26 may comprise, for example, individual personal computers coupled tointernetwork 24 via a dial up connection, through an internet service provider, or through a LAN or WAN connection to the Internet. In the illustrated embodiment,buyer systems 28 andseller systems 26 comprise web browsers, which communicate withserver system platform 12. -
Seller interface 14 performs an online bid setup process which includes obtaining, from a givenseller system 26, price varying information and quantity information corresponding to the price varying information.Buyer interface 16 communicates to selectbuyer systems 28 bid information and product information. The product information may comprise information describing goods or services. In the embodiment specifically illustrated herein, the product is goods, which comprise second-hand/previously owned personal computer systems. The bid information comprises bidding period information, specifically including an auction start date/time and an auction end date/time in the embodiment provided herein. The buyer interface also accepts from the given buyer system 28 a given quantity needed, which a given buyer using the given buyer system desires to purchase, and a given bid. The given bid is the amount the buyer is willing to pay for the given quantity needed. If this bid is sufficiently high to be a winning bid, the transaction will take place, either obligating the buyer to purchase the product (and the seller to sell the product) for the specified terms, or, depending upon the implementation, actually effecting an electronic payment for the product and setting in place a product delivery process. - Unit
price adjustment mechanism 20 determines a given unit parity price for the given buyer, which unit parity price varies according to the given quantity needed by the given buyer. Bid manager 22 defines a given winning bid amount for the given buyer as a function of the given unit parity price and a rank of the given buyer in relation to other buyers. -
FIGS. 3, 4 , and 5 depict, respectively, first, second, and third embodiments of seller screens which may be displayed on a givenseller system 26 per operation ofseller interface 14. Referring toFIG. 3 , aseller screen 40 a is shown, comprising a column oflegends 42 a, with corresponding records next to each respective legend. - Specifically, a set of unit description records 44 a is provided which describes a unit of a given product. In this embodiment, certain characteristics of a type of personal computer being sold are described in
various records 44 a. The products being sold may be identical. That is, each unit may comprise a product which has certain identical characteristics to all other units within the lot. Alternatively, a given unit may be considered a unit because it meets certain requirements. Minor variations may not preclude a product from being considered a unit from the same lot, so long as they meet the describing characteristics set forth in the unit description section of the seller screen. -
Bid parameters 46 a are also set forth infirst seller screen 40 a. They comprise atotal lot quantity 40 a, areserve price 50, areserve unit price 52, abid increment 54, aminimum sublot quantity 56, a splittingfactor 58, a pricingmodel value k 60, an auction start date/time 62, and an auction close date/time 64. - The embodiment shown in
FIG. 3 corresponds to a seller interface process by which a seller can apply a pre-defined unit cost increase to the current price of a particular sublot quantity in a multi-unit ascending auction. This embodiment enables a seller to specify his or her willingness to split an auction lot, and to identify the added transaction cost associated with such a split. These costs are then passed along to the buyer in the form of a unit cost increase as compared with the unit cost of purchasing the entire lot. - The seller interface may be provided with a mechanism (not specifically shown) for allowing the seller to register prior to being cleared to trade using the e-auction site. Registration may involve inputting a standard set of personal and business information through an online form (not shown). Such data may be maintained in a system database 11 as shown in
FIG. 2 , and used, as necessary, for such things as security, billing, and marketing purposes. Once a user/seller is registered, he or she may act as a seller and list items for auction. In order to do so, a mechanism may be provided which requires the seller to specify auction parameters by filling out an online form such as that shown inFIG. 3 .Unit description information 44 a is input, andbid parameters 46 a are input as well by the seller.Total lot quantity 48 will comprise a value representing the total quantity of product for sale. In this case, 100 computers are being offered for sale by the seller.Reserve price 50 comprises a value representing the minimum (opening) bid for the purchase of the entire lot. In this example, the purchase price for the entire lot is $10,000. Thereserve unit price 52 corresponds to a calculated value which is not directly input by the user. This value is calculated by dividing the reserve price by the total lot quantity. In this case, this value is equal to $100. Thebid increment 54 is input by the seller, and represents the minimum by which a successive bid must top a current high bid. - A
minimum sublot quantity 56 is input by the seller, and specifies the minimum sublot quantity that can be purchased by a given buyer. A splitting factor, which is 50 in the example, is specified by the seller which determines the unit price increase that is applied to split lots to offset added transaction costs. More information will be provided below regarding the significance of the splitting factor and how it may be used in the bidding process. A pricing model parameter (k) 60 is also specified. In addition, the seller will indicate parameters defining the bidding period in the illustrated embodiment. Those parameters comprise an auction start date/time 62 and an auction close date/time 64. - The splitting factor is a seller-defined parameter used with a pricing algorithm to quantify the unit cost increase to be applied to split lots. For example,
FIG. 3 illustrates a first embodiment seller screen in which a seller has determined that the price of splitting a lot into sublot quantities and selling in such sublots (rather than selling the whole lot) is $50.00 per split. This factor is easily converted to a maximum parity unit price (P). The maximum parity unit price is the parity unit price for the purchase of the minimum sublot quantity. It is by definition higher than the reserve unit price, which is the price that is paid for buying the complete lot. Both of these values may be utilized to calculate a parity unit price curve in accordance with a given algorithm. Various embodiments are depicted below for implementing such an algorithm. Such calculations are performed, in the illustrated embodiment, by the unitprice adjustment mechanism 20 of theonline bidding system 10 showingFIG. 2 . -
FIG. 4 shows a second embodiment of a seller screen, where the seller does not need to specify the splitting factor. Rather, the seller identifies the minimum unit price for both the total quantity and the minimum sublot quantity. The illustrated second seller screen 40 b comprises, as was the case with the screen showingFIG. 3 , a column oflegends 42 b, and corresponding records, including unit description records 44 b and bid parameters 46 b. - In the embodiment shown in
FIG. 4 , the seller does not need to specify the splitting factor or pricing algorithm used to determine the sublot unit price. Rather, the seller specifies the reserve unit price to start the bidding for each available sublot quantity. As with the preceding approach, the reserve unit price will increase as the sublot quantity decreases. This method allows a seller to run several simultaneous independent auctions for different sublot quantities. The specified reserve unit price must be bid for a sublot quantity in order to open the bidding for that quantity. -
FIG. 5 shows a third embodiment of aseller screen 40 c, which comprises a column oflegends 42 c, with correspondingunit description information 44 c andbid parameters 46 c. This embodiment utilizes a larger selection ofbid parameters 46 c. -
FIG. 5 requires that additional information be provided by the seller as compared with the embodiments illustrated inFIGS. 3 and 4 . That information includes such information as the total lot quantity, reserve price, reserve unit price, bid increment, the minimum sublot quantity, and the maximum parity price corresponding to the minimum sublot quantity. In addition, the seller may input a plurality of sublot quantity sizes and corresponding reserve unit prices. In the embodiment illustrated inFIG. 5 , up to 3 sublot quantities may be input in addition to the minimum sublot quantity. In addition, the seller can indicate the bidding period by specifying an auction start date/time and auction close date/time. - The bid manager 22 will compare different bids for different sublot quantities in order to rank the bids and to determine the winner. Utilizing the database 11, bid manager 22 will compare high bids for each sublot quantity versus the reserve unit price specified for that quantity. For instance, if buyer no. 1 offers to purchase the entire lot of 100 units for the initial reserve unit price of $100.00, while buyer no. 2 offers to by 25 units at $150.00 per unit (120% of the initial reserve unit price), then the buyer no. 2 will win the bid. In order for buyer no. 1 to counter the bid of buyer no. 2, he or she must bid an equivalent 120% of the reserve unit price for that particular quantity (100 units), i.e., $120.00 per unit. If buyer no. 1 achieves price parity (120%) with buyer no. 2, buyer no. 1 would win the bid since bids-are ranked by price, then quantity, and then date.
- The unit parity price curve may be defined in any manner so as to allow the varying of the price as a function of the quantity purchased by the buyer.
FIG. 6 provides one example of a parity unit price curve depicting the manner in which the parity unit price will vary in relation to the quantity needed by the buyer. InFIG. 6 , the parity unit price varies linearly with respect to the quantity. Specifically, the parity unit price can be as low as the reserve unit price dP, which is the price for purchasing the entire lot quantity Q, to as high as the maximum parity unit price P which is the price for purchasing the minimum sublot quantity sQ. - The unit
price adjustment mechanism 20 may be implemented to determine whether a given sublot quantity dictates a particular parity unit price in accordance with the curve shown inFIG. 6 . Various values defining the curve shown inFIG. 6 may be specified by the seller or may be calculated using a particular equation which receives certain parameters, dictated by the seller (through a seller screen) or set as default parameters. In this embodiment, the total lot quantity Q, the minimum sublot quantity sQ, and the reserve unit price dP are all determined directly by the seller. The maximum parity unit price P is determined by a calculation involving the splitting factor chosen by the seller. The maximum parity unit price P is determined using the following equation: - The value f represents the splitting factor.
- This calculation is required for the seller interface depicted in
FIG. 3 . InFIG. 4 , the seller may directly specify the maximum parity unit price P. In any event, a linear pricing model may be utilized based upon the reserve unit price, the maximum parity unit price, the total quantity, and minimum sublot quantity, where the unit price increases at a constant rate as the sublot quantity decreases. - Given the two endpoints of the linear pricing model (dP,Q) (P,sQ), an infinite number of polynomial curves can also be created that pass through these points. The family of polynomial curves passing through the two points, in the embodiments illustrated herein, may be determined using the following equation, solved for the bid unit price (p) given a sublot quantity (q):
- In this equation, k is a factor associated with the specified pricing model which may be selected by the seller, as shown in
FIG. 7 . According to this equation, if k=1, the curve generated is the original straight line with a constant unit price increase versus quantity. However, if k is greater than 1, the equation generates a polynomial curve that dips below the line. This pricing equation may be chosen by a seller who is willing to split the lot to a particular size for a modest increase over the reserve unit price. On the other hand, if the value of k is between 0 and 1, the equation generates a polynomial curve that rises above the line. This curve may be chosen by a seller who, although willing to split the lot, requires a more significant price increase paid by the buyer for sublot quantities. - In another embodiment, the pricing curve between the two points (sQ, P) and (Q, dP can be determined by a combined exponential equation of the form:
where k is a factor associated with the specific pricing model selected by the seller. Note that this equation yields the same result as the polynomial equation, but uses exponential nomenclature instead. - In yet another embodiment, the pricing curve can be calculated according to a generalized Leontiev equation of the form:
where K and d are pricing factors associated with the specific pricing model selected by the seller. And the unit price (p) associated with a sublot quantity (q) can be determined by using the quadratic equation of the form:
Note that the generalized Leontiev equation yields the same result as the polynomial equation and combined exponential equation, but uses a complex quadratic nomenclature instead. -
FIG. 8 illustrates a plurality of parity unit price curves in order to illustrate a process of progressive bidding and the manner in which the bidding manager can rank bids by price, then quantity, and then by bid time. The bidding manager will assume that there is parity between bids for different quantities that fall on the same parity unit price curve. Thus, all bids which reside along the pricing curve are treated as equivalent for price (i.e., bid 1 a and 2 a), and will be won or lost based upon higher quantity (i.e., bid 2 a wins). For the buyer of a smaller sublot quantity to make a winning bid, he or she must bid off the curve to the right or at a higher unit price (i.e., bid 1 b now wins over 2 a). The effect of doing this is to progressively move the entire parity unit price curve to the right as the bidding progresses. Thus, while the shape of the parity unit price curve does not change, the bid unit price for all quantities increases as the auction progresses. -
FIG. 9 illustrates one example embodiment of abuyer screen 80. A column of legends 82 is provided, and records are provided to the right of the corresponding legends, including unit description information records 84 and bid information records 86. The bid information records 86 comprise a quantity neededvalue 88, a minimum unit price value 90, aminimum bid price 92, abid amount 94, and auction start and auctionclose values value 88, in the illustrated example, comprises 50 units. The minimum unit price for this quantity is $105, and the minimum bid price for this total quantity is $5,250. The minimum unit price value of $105 represents the minimum unit price needed to win the bid. The actual amount that is bid by the buyer may be input in the space for thebid amount 94. - Once an auction has been launched by a seller, it will be visible to potential buyers browsing the auction cite. Through the buyer interface, a summary, or detailed listing, of the auction parameters may be presented, for example, in tabular form.
FIG. 9 is one example of a buyer screen which can be reached once the buyer chooses a particular auction. With that screen, the buyer needs only to identify the quantity needed. Based upon seller's specifications, the remaining values of the minimum unit price and minimum bid price may be computed. The price that is provided as the minimum unit price is the minimum price that must be bid in order to win the bid, and that value is calculated by bid manager 22 taking into account unit parity price information from unitprice adjustment mechanism 20, as described previously herein. Accordingly, the winning minimum bid price may be calculated from a pricing curve selected by the seller for that auction. Thus, e.g., if a buyer wishes to buy only 5 units, he or she may be quoted a reserve unit price of $105 rather than $100 per unit for which he could pay to purchase all 100 units. -
FIG. 10 illustrates a general process performed byseller interface 14. In a first act A2, the seller screen is displayed. In a next act A4, input parameters are accepted by the seller interface. That is, certain input parameters may be input by a seller using aseller system 26. They are received byseller interface 14, accepted, and stored withinmemory 18 and then stored within database 11. - In a next act A6, a confirmation display is provided to the seller via
seller system 26. Accordingly, if, for example, thefirst seller screen 40 a shown inFIG. 3 is presented to a seller, it will be displayed at act A2. The seller can input various parameters at thebid parameters 46 a record location on the screen. That is, the seller can input the total lot quantity, which is 100 in the screen shown inFIG. 3 . The reserve price $10,000 can be input. The seller interface may then calculate, from the first two values, the reserve unit price of $100. The seller can input the bid increment of $100 at thebid increment location 54. The minimum sublot quantity, splitting factor, and pricing model are also input by the seller. In addition, the seller inputs values for the auction start and auction close date/times. A confirmation is then provided at act A6 of the fact that all of these values have been accepted by the system. -
FIGS. 11A-11C comprise a flowchart illustrating the general process performed by a buyer interface, such asbuyer interface 16 shown inFIG. 2 . In a first act A10, a determination is made as to whether the buyer is interacting with the system during a present bidding period. If the buyer is not within the present bidding, which is defined by the auction start and auction close date/times in the illustrated embodiment, the process will proceed to act A12, at which point in time the buyer will be notified throughbuyer system 28 that bidding is not available for that particular auction. If the buyer is trying to interact during an existing and valid bidding period as determined at act A10, the process will proceed to act A14. In act A14, the buyer screen will be displayed. At act A16, the needed quantity, input by the buyer throughbuyer system 28, will be accepted bybuyer interface 16 and stored within database 11. In a next act A18, a determination is made as to whether the input quantity needed is acceptable. In other words, a determination is made as to whether the quantity needed is greater than or equal to the minimum sublot quantity specified by the seller. If the quantity is not acceptable, a display is provided to the buyer at act A20 indicating that the lot size is not large enough. The process will proceed from act A18 to act A22, where the buyer interface will trigger the determination of the minimum unit price needed to win the bid, and that minimum unit price value will be displayed. At act A24, the buyer will prompted to input a bid amount, and the buyer interface will accept and store that value in database 11. A determination is then made at act A26 as to whether the bid amount is equal to or larger than the minimum amount to win the bid, as was determined at act A22. If not, the process will return to act A24 and prompt the buyer to input a new bid amount. If the buyer does input a bid amount within a winning range, as determined at act A26, the process will proceed to act A28, where the buyer-seller transaction will take place, for example, using point of sale and online account debting techniques. -
FIG. 12 provides a flowchart of the process which may be performed by bid manager 22 in order to determine the minimum bid price needed to win a bid. At an initial act A50, a determination is made as to whether the quantity needed, which is input by the buyer, is greater than the current high bid quantity, i.e., the current highest quantity bid at a parity price for that quantity. If the determination results in a yes, the process proceeds to act A52, wherebuyer interface 16 will input as the minimum unit price the high bid parity price for that quantity needed. If the quantity needed value is determined not to be higher than the current high bid quantity at act A50, the process proceeds to act A54. At act A54, a determination is made as to whether the sum of the quantity needed and the high bid quantity is greater than the remaining quantity for sale. If this relationship holds true, the process proceeds to act A56, where the minimum unit price that will be displayed is the sum of the high bid parity price and the bid increment for the quantity needed. If the relationship checked at act A54 is determined not to be true, the process will proceed to act A58, at which the high bid parity price will be quoted for the quantity needed. - While the invention has been described by way of example embodiments, it is understood that the words which have been used herein are words of description, rather than words of limitation. Changes may be made, within the purview of the appended claims, without departing from the scope and spirit of the invention in its broader aspects. Although the invention has been described herein with reference to particular structures, materials, and embodiments, it understood that the invention is not limited to the particulars disclosed. The invention extends to all equivalent structures, mechanisms, acts, and uses, such as are within the scope of the appended claims.
Claims (11)
1. In an online auction system for auctioning off products in measurable units, the online auction system comprising a server system, plural buyer systems, and plural seller systems, said server system comprising:
a seller interface for performing an online bid setup process including obtaining, from a given said seller system, price varying information and quantity information corresponding to said price varying information;
a buyer interface communicating to select buyer systems bid information and product information and accepting, from a given said buyer system, a given quantity needed, the given quantity needed being an amount of units of a product a given buyer using said given buyer system desires to purchase, and accepting a given bid;
a unit price adjustment mechanism for determining a given parity price for said given buyer, said given parity price varying according to said given quantity needed; and
a bid manager for defining a given winning bid amount for said given buyer as a function of said given parity price and a rank of said given buyer in relation to other buyers.
2. The server system according to claim 1 , wherein said products comprise goods.
3. The server system according to claim 1 , wherein said products comprise services.
4. The server system according to claim 1 , wherein said products comprise computer hardware and software systems.
5. The server system according to claim 1 , wherein said products comprise personal computers.
6. The server system according to claim 1 , wherein said bidding information comprises bidding period information.
7. The server system according to claim 6 , wherein said bidding information comprises an auction start date/time and an auction end date/time.
8. The server system according to claim 1 , wherein said price adjustment mechanism comprises a unit price adjustment mechanism for determining a given unit parity price.
9. The server system according to claim 1 , wherein said bid manager comprises a mechanism for quoting as said winning bid amount said given parity price when said quantity needed is greater than a current high bid quantity.
10. The server system according to claim 9 , wherein said current high bid quantity comprises the current highest quantity bid at a parity price for that quantity.
11. The server system according to claim 1 , wherein said bid manager comprises a mechanism for quoting as said winning bid amount a value equal to said given parity price plus a bid increment when a sum of said given quantity needed and said current high bid quantity is greater than a total remaining quantity for sale.
Priority Applications (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US11/109,254 US20050187859A1 (en) | 1999-10-12 | 2005-04-18 | Online auction method and system facilitating the sale of multiple product units at prices varying with volume |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US09/417,459 US7062460B1 (en) | 1999-10-12 | 1999-10-12 | On-line auction method and system facilitating the sale of multiple product units at prices varying with volume |
US11/109,254 US20050187859A1 (en) | 1999-10-12 | 2005-04-18 | Online auction method and system facilitating the sale of multiple product units at prices varying with volume |
Related Parent Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
US09/417,459 Continuation US7062460B1 (en) | 1999-10-12 | 1999-10-12 | On-line auction method and system facilitating the sale of multiple product units at prices varying with volume |
Publications (1)
Publication Number | Publication Date |
---|---|
US20050187859A1 true US20050187859A1 (en) | 2005-08-25 |
Family
ID=34860127
Family Applications (2)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
US09/417,459 Expired - Lifetime US7062460B1 (en) | 1999-10-12 | 1999-10-12 | On-line auction method and system facilitating the sale of multiple product units at prices varying with volume |
US11/109,254 Abandoned US20050187859A1 (en) | 1999-10-12 | 2005-04-18 | Online auction method and system facilitating the sale of multiple product units at prices varying with volume |
Family Applications Before (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
US09/417,459 Expired - Lifetime US7062460B1 (en) | 1999-10-12 | 1999-10-12 | On-line auction method and system facilitating the sale of multiple product units at prices varying with volume |
Country Status (1)
Country | Link |
---|---|
US (2) | US7062460B1 (en) |
Cited By (40)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20020052828A1 (en) * | 2000-05-18 | 2002-05-02 | Ausubel Lawrence M. | System and method for an efficient dynamic multi-unit auction |
US20040064399A1 (en) * | 2000-07-01 | 2004-04-01 | Gologorsky Steven Phillip | Multi-variable computer-based auctions |
US20040186805A1 (en) * | 2000-07-01 | 2004-09-23 | Gologorsky Steven Phillip | Sealed-bid auction comprising staged bid publication |
WO2005065386A2 (en) * | 2003-12-29 | 2005-07-21 | Zunafish Ventures, Inc. | Electronic bartering |
US20050234804A1 (en) * | 2004-04-16 | 2005-10-20 | Yue Fang | Method and system for auto-mapping to network-based auctions |
US20050273420A1 (en) * | 2004-04-16 | 2005-12-08 | Lenin Subramanian | Method and system for customizable homepages for network-based auctions |
US20060004647A1 (en) * | 2004-04-16 | 2006-01-05 | Guruprasad Srinivasamurthy | Method and system for configurable options in enhanced network-based auctions |
US20060004649A1 (en) * | 2004-04-16 | 2006-01-05 | Narinder Singh | Method and system for a failure recovery framework for interfacing with network-based auctions |
US20070106597A1 (en) * | 2005-11-03 | 2007-05-10 | Narinder Singh | Method and system for generating an auction using a template in an integrated internal auction system |
US20070106595A1 (en) * | 2005-10-31 | 2007-05-10 | Sap Ag | Monitoring tool for integrated product ordering/fulfillment center and auction system |
US20070106596A1 (en) * | 2005-10-31 | 2007-05-10 | Sap Ag | Method and system for implementing multiple auctions for a product on a seller's e-commerce site |
US20070130045A1 (en) * | 2005-12-06 | 2007-06-07 | Auction Answers, Llc | Method and apparatus for tracking the progress of an auction |
US20070143205A1 (en) * | 2005-10-31 | 2007-06-21 | Sap Ag | Method and system for implementing configurable order options for integrated auction services on a seller's e-commerce site |
US20070143206A1 (en) * | 2005-11-03 | 2007-06-21 | Sap Ag | Method and system for generating an auction using a product catalog in an integrated internal auction system |
US20070143201A1 (en) * | 2005-12-15 | 2007-06-21 | Swanson Daniel R Sr | Systems and methods for selling vehicle repossession rights |
US20070150406A1 (en) * | 2005-10-31 | 2007-06-28 | Sap Ag | Bidder monitoring tool for integrated auction and product ordering system |
US20080004977A1 (en) * | 2006-06-30 | 2008-01-03 | Fisher Jeffry R | Digital marketplace to facilitate transactions of creative works |
US20080021812A1 (en) * | 2000-08-23 | 2008-01-24 | Demont & Breyer, Llc | Data Processing System That Provides An Auction With Programmable Proxy Bids |
US20080059283A1 (en) * | 2006-08-31 | 2008-03-06 | Ebay Inc. | Method and system for opportunity distribution |
US20080071635A1 (en) * | 2006-09-15 | 2008-03-20 | Reapfield Technology Sdn. Bhd | Online transaction system |
GB2444085A (en) * | 2006-11-24 | 2008-05-28 | Bluesuite Ltd | Auctioning similar items |
US20080126241A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Auctioning Similar Examples of an Item |
US7447646B1 (en) * | 2004-09-23 | 2008-11-04 | Amazon Technologies, Inc. | Method and computer-readable medium for automated dynamic pricing of products with parameter-driven state transitions |
US20090287610A1 (en) * | 2008-05-13 | 2009-11-19 | Mediaequals Limited | Data Processing |
US20100020383A1 (en) * | 2008-07-28 | 2010-01-28 | Lucent Technologies Inc. | Thermal actuator for an infrared sensor |
US20100161442A1 (en) * | 2008-12-22 | 2010-06-24 | Cheng-Han Kuo | Interactive Electronic Trading Method |
US20110246320A1 (en) * | 2010-04-06 | 2011-10-06 | Cracka Ip Pty Ltd | Systems and methods for allocating units to users in an online environment |
US8095428B2 (en) | 2005-10-31 | 2012-01-10 | Sap Ag | Method, system, and medium for winning bid evaluation in an auction |
US20120089410A1 (en) * | 1999-11-22 | 2012-04-12 | Accenture Global Services Limited | System, method and article of manufacture for enhanced visibility during installation management in a network- based supply chain environment |
US8195523B1 (en) | 2002-10-08 | 2012-06-05 | Public Service & Gas Company | Method and system for computer-based auctioning of basic generation services |
US20120166301A1 (en) * | 2010-12-23 | 2012-06-28 | Bruce Chen | Online transaction method and online transaction system |
US20130151367A1 (en) * | 2011-11-22 | 2013-06-13 | Integrated Holdings Llp | Systems and methods of providing a volume and revenue maximizing retail sales platform |
US9904954B2 (en) | 2013-03-15 | 2018-02-27 | Ten-X, Llc | Flexible commercial loan pool |
US10013705B2 (en) | 1999-11-22 | 2018-07-03 | Accenture Global Services Limited | Increased visibility during order management in a network-based supply chain environment |
US20190147470A1 (en) * | 2017-11-14 | 2019-05-16 | Yahoo Japan Corporation | Information processing apparatus and information processing method |
CN109829741A (en) * | 2018-06-29 | 2019-05-31 | 傲佑科技(上海)有限公司 | A kind of commodity price automatic paragraphing successively decreases pricing method |
US10430853B2 (en) | 2004-12-23 | 2019-10-01 | Ebay Inc. | Multiple format search result sets |
WO2019157349A3 (en) * | 2018-02-12 | 2020-04-16 | Ablanczy Michael | Bilateral bidding platform for use in bulk sale of items in an electronic marketplace |
US10936432B1 (en) * | 2014-09-24 | 2021-03-02 | Amazon Technologies, Inc. | Fault-tolerant parallel computation |
US11062385B2 (en) * | 2018-08-21 | 2021-07-13 | International Business Machines Corporation | Providing code offerings inside code |
Families Citing this family (23)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US8447662B2 (en) * | 2000-05-18 | 2013-05-21 | Efficient Auctions Llc | System and method for an efficient dynamic multi-unit auction |
US6629082B1 (en) * | 1999-06-15 | 2003-09-30 | W.R. Hambrecht & Co. | Auction system and method for pricing and allocation during capital formation |
US20010039530A1 (en) * | 2000-01-18 | 2001-11-08 | Annunziata Vincent P. | Trading simulation |
US7415436B1 (en) * | 2000-03-08 | 2008-08-19 | W. R. Hambrecht + Co., Llc | System and method for pricing and allocation of commodities or securities |
US7647270B2 (en) * | 2000-03-08 | 2010-01-12 | W.R. Hambrecht + Co., Llc | System and methods for pricing and allocation of commodities or securities |
CN1466730A (en) * | 2000-10-02 | 2004-01-07 | 瑞士再保险公司 | On-line reinsurance capacity auction system and method |
JP3579828B2 (en) * | 2000-11-14 | 2004-10-20 | インターナショナル・ビジネス・マシーンズ・コーポレーション | Information processing method, information processing system and recording medium |
US20080222023A1 (en) * | 2001-04-30 | 2008-09-11 | W.R. Hambrecht + Co., Llc | Internet-Based System for Auctioning Securities |
US20030115127A1 (en) * | 2001-12-18 | 2003-06-19 | Freemarkets, Inc. | Method of market basket bidding for surplus merchandise |
US7783529B2 (en) * | 2002-04-10 | 2010-08-24 | Combinenet, Inc. | Market clearability in combinatorial auctions and exchanges |
US20040006530A1 (en) * | 2002-07-03 | 2004-01-08 | Freemarkets, Inc. | Automated lotting |
US7853482B2 (en) * | 2003-10-28 | 2010-12-14 | Sap Aktiengesellschaft | Complex prices in bidding |
US20050240512A1 (en) * | 2004-02-18 | 2005-10-27 | Nacenters, Inc. | Method and system for identifying auction items in a graphical location |
US8108262B1 (en) | 2008-02-29 | 2012-01-31 | Amazon Technologies, Inc. | Haggling in an electronic commerce system |
US9324109B1 (en) | 2008-02-29 | 2016-04-26 | Amazon Technologies, Inc. | Proactive Pricing |
US8566170B1 (en) | 2008-02-29 | 2013-10-22 | Amazon Technologies, Inc. | Reducing purchase hesitance |
US20100299269A1 (en) * | 2009-05-20 | 2010-11-25 | Sean Martin | Method of soliciting an aggregate purchase |
US20130132192A1 (en) * | 2011-05-19 | 2013-05-23 | John Robert Krukowski | E-commerce valuation system and method |
US8457800B2 (en) | 2012-01-19 | 2013-06-04 | General Compression, Inc. | System and method for conserving energy resources through storage and delivery of renewable energy |
TWI603278B (en) * | 2016-06-17 | 2017-10-21 | 南臺科技大學 | Method of determining bid winner in on-line auction by automatically decreasing bidding prices |
US11164243B1 (en) | 2017-12-20 | 2021-11-02 | Robin R. Buckham | System, method and market place for selling items in an on-line environment |
US11494832B2 (en) | 2018-11-09 | 2022-11-08 | Honeywell International Inc. | Systems and methods for securely creating a listing of equipment on an equipment online marketplace platform |
US11640630B2 (en) | 2018-11-09 | 2023-05-02 | Honeywell International Inc. | Systems and methods for verifying identity of a user on an equipment online marketplace platform |
Citations (1)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US6058379A (en) * | 1997-07-11 | 2000-05-02 | Auction Source, L.L.C. | Real-time network exchange with seller specified exchange parameters and interactive seller participation |
Family Cites Families (28)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US3581072A (en) | 1968-03-28 | 1971-05-25 | Frederick Nymeyer | Auction market computation system |
US4903201A (en) | 1983-11-03 | 1990-02-20 | World Energy Exchange Corporation | Automated futures trading exchange |
US4789289A (en) | 1986-12-23 | 1988-12-06 | Wilson Leon R | Bale loader, handler and feeder |
US5077665A (en) | 1989-05-25 | 1991-12-31 | Reuters Limited | Distributed matching system |
US5794219A (en) | 1996-02-20 | 1998-08-11 | Health Hero Network, Inc. | Method of conducting an on-line auction with bid pooling |
US5794207A (en) * | 1996-09-04 | 1998-08-11 | Walker Asset Management Limited Partnership | Method and apparatus for a cryptographically assisted commercial network system designed to facilitate buyer-driven conditional purchase offers |
US5394324A (en) | 1993-12-08 | 1995-02-28 | Xerox Corporation | Auction-based control system for energy resource management in a building |
US5640569A (en) | 1995-04-28 | 1997-06-17 | Sun Microsystems, Inc. | Diverse goods arbitration system and method for allocating resources in a distributed computer system |
US5826244A (en) | 1995-08-23 | 1998-10-20 | Xerox Corporation | Method and system for providing a document service over a computer network using an automated brokered auction |
US5715402A (en) * | 1995-11-09 | 1998-02-03 | Spot Metals Online | Method and system for matching sellers and buyers of spot metals |
US5905975A (en) | 1996-01-04 | 1999-05-18 | Ausubel; Lawrence M. | Computer implemented methods and apparatus for auctions |
US5774873A (en) | 1996-03-29 | 1998-06-30 | Adt Automotive, Inc. | Electronic on-line motor vehicle auction and information system |
US5835896A (en) * | 1996-03-29 | 1998-11-10 | Onsale, Inc. | Method and system for processing and transmitting electronic auction information |
US5924083A (en) | 1996-05-29 | 1999-07-13 | Geneva Branch Of Reuters Transaction Services Limited | Distributed matching system for displaying a book of credit filtered bids and offers |
US5890138A (en) | 1996-08-26 | 1999-03-30 | Bid.Com International Inc. | Computer auction system |
US5905974A (en) | 1996-12-13 | 1999-05-18 | Cantor Fitzgerald Securities | Automated auction protocol processor |
US5974403A (en) * | 1997-07-21 | 1999-10-26 | International Business Machines Corporation | Power trading and forecasting tool |
US6131087A (en) * | 1997-11-05 | 2000-10-10 | The Planning Solutions Group, Inc. | Method for automatically identifying, matching, and near-matching buyers and sellers in electronic market transactions |
AU5898099A (en) * | 1998-08-25 | 2000-03-14 | Accompany Inc. | On-line marketing system and method |
US7249085B1 (en) * | 1999-03-31 | 2007-07-24 | Ariba, Inc. | Method and system for conducting electronic auctions with multi-parameter price equalization bidding |
US6058417A (en) * | 1998-10-23 | 2000-05-02 | Ebay Inc. | Information presentation and management in an online trading environment |
US6141653A (en) * | 1998-11-16 | 2000-10-31 | Tradeaccess Inc | System for interative, multivariate negotiations over a network |
US6449601B1 (en) * | 1998-12-30 | 2002-09-10 | Amazon.Com, Inc. | Distributed live auction |
AU4798800A (en) * | 1999-05-26 | 2000-12-18 | Gerard Michel | Auction method and apparatus for raising a fixed amount of capital |
GB2363483A (en) * | 2000-06-16 | 2001-12-19 | Eteatrade Ltd | An auction system and method |
EP1170691A1 (en) * | 2000-07-05 | 2002-01-09 | Lawrence Ausubel | System and method for an efficient dynamic multi-unit auction |
CA2329281A1 (en) * | 2000-12-21 | 2002-06-21 | Worldwide Farm Equipment Auctions.Com Ltd. | Adaptive bidding increments in an online auction system |
US20020099631A1 (en) * | 2001-01-17 | 2002-07-25 | David Vanker | Method and system for transferring information between multiple buyers and multiple sellers |
-
1999
- 1999-10-12 US US09/417,459 patent/US7062460B1/en not_active Expired - Lifetime
-
2005
- 2005-04-18 US US11/109,254 patent/US20050187859A1/en not_active Abandoned
Patent Citations (1)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US6058379A (en) * | 1997-07-11 | 2000-05-02 | Auction Source, L.L.C. | Real-time network exchange with seller specified exchange parameters and interactive seller participation |
Cited By (83)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20120089410A1 (en) * | 1999-11-22 | 2012-04-12 | Accenture Global Services Limited | System, method and article of manufacture for enhanced visibility during installation management in a network- based supply chain environment |
US10013705B2 (en) | 1999-11-22 | 2018-07-03 | Accenture Global Services Limited | Increased visibility during order management in a network-based supply chain environment |
US7165046B2 (en) * | 2000-05-18 | 2007-01-16 | Efficient Auctions Llc | System and method for an efficient dynamic multi-unit auction |
US7870050B2 (en) | 2000-05-18 | 2011-01-11 | Ausubel Lawrence M | System and method for an efficient dynamic multi-unit auction |
US20020052828A1 (en) * | 2000-05-18 | 2002-05-02 | Ausubel Lawrence M. | System and method for an efficient dynamic multi-unit auction |
US20090094136A1 (en) * | 2000-05-18 | 2009-04-09 | Efficient Auctions Llc | System and method for an efficient dynamic multi-unit auction |
US7467111B2 (en) | 2000-05-18 | 2008-12-16 | Efficient Auctions Llc | System and method for an efficient dynamic multi-unit auction |
US20070124233A1 (en) * | 2000-05-18 | 2007-05-31 | Efficient Auctions Llc | System and method for an efficient dynamic multi-unit auction |
US20080195412A1 (en) * | 2000-07-01 | 2008-08-14 | Demont & Breyer, Llc | Sealed-Bid Auction Comprising Staged Bid Publication |
US20040064399A1 (en) * | 2000-07-01 | 2004-04-01 | Gologorsky Steven Phillip | Multi-variable computer-based auctions |
US20040186805A1 (en) * | 2000-07-01 | 2004-09-23 | Gologorsky Steven Phillip | Sealed-bid auction comprising staged bid publication |
US20080195411A1 (en) * | 2000-07-01 | 2008-08-14 | Demont & Breyer, Llc | Sealed-Bid Auction Comprising Staged Bid Publication |
US20080195526A1 (en) * | 2000-07-01 | 2008-08-14 | Demont & Breyer, Llc | Sealed-Bid Auction Comprising Staged Bid Publication |
US20080021812A1 (en) * | 2000-08-23 | 2008-01-24 | Demont & Breyer, Llc | Data Processing System That Provides An Auction With Programmable Proxy Bids |
US20080033868A1 (en) * | 2000-08-23 | 2008-02-07 | Demont & Breyer, Llc | Data Processing System That Provides An Auction With Programmable Proxy Bids |
US20080027852A1 (en) * | 2000-08-23 | 2008-01-31 | Demont & Breyer, Llc | Data Processing System That Provides An Auction With Programmable Proxy Bids |
US8285601B1 (en) | 2002-10-08 | 2012-10-09 | Public Service & Gas Company | Method and system for computer-based auctioning of basic generation services |
US9886719B1 (en) | 2002-10-08 | 2018-02-06 | Public Service & Gas Company | Electronic withdrawal and/or bid switch requests for computer-based auctioning of basic generation services |
US11861687B1 (en) | 2002-10-08 | 2024-01-02 | Public Service Electric & Gas Company | Computer architecture and process for processing a withdrawal request or a switch request for auctioning of basic generation services |
US9940666B1 (en) | 2002-10-08 | 2018-04-10 | Public Service & Gas Company | Electronic withdrawal and/or exit price requests for computer-based auctioning of basic generation services |
US9811855B1 (en) | 2002-10-08 | 2017-11-07 | Public Service & Gas Company | Electronic extension requests to extend electronic bidding for qualified bidders for computer-based auctioning of basic generation services |
US11301926B1 (en) | 2002-10-08 | 2022-04-12 | Public Service Electric & Gas Company | Computer architecture and process for implementing load caps for auctioning of basic generation services |
US9792647B1 (en) | 2002-10-08 | 2017-10-17 | Public Service & Gas Company | Electronic bid switch requests for computer-based auctioning of basic generation services |
US11514509B1 (en) | 2002-10-08 | 2022-11-29 | Public Service Electric & Gas Company | Electronic bid withdrawal and switch requests for computer-based auctioning of basic generation services |
US8195523B1 (en) | 2002-10-08 | 2012-06-05 | Public Service & Gas Company | Method and system for computer-based auctioning of basic generation services |
US11449928B1 (en) | 2002-10-08 | 2022-09-20 | Public Service Electric & Gas Company | Computer architecture and process for revisions to targets for auctioning of basic generation services |
US8219458B1 (en) | 2002-10-08 | 2012-07-10 | Public Service & Gas Company | Method and system for computer-based auctioning of basic generation services |
US8219459B1 (en) | 2002-10-08 | 2012-07-10 | Public Service & Gas Company | Method and system for computer-based auctioning of basic generation services |
WO2005065386A3 (en) * | 2003-12-29 | 2006-01-05 | Zunafish Ventures Inc | Electronic bartering |
GB2425630A (en) * | 2003-12-29 | 2006-11-01 | Zunafish Ventures Inc | Electronic bartering |
US20070124228A1 (en) * | 2003-12-29 | 2007-05-31 | Daniel Elias | Electronic bartering |
WO2005065386A2 (en) * | 2003-12-29 | 2005-07-21 | Zunafish Ventures, Inc. | Electronic bartering |
US7877313B2 (en) | 2004-04-16 | 2011-01-25 | Sap Ag | Method and system for a failure recovery framework for interfacing with network-based auctions |
US20060004647A1 (en) * | 2004-04-16 | 2006-01-05 | Guruprasad Srinivasamurthy | Method and system for configurable options in enhanced network-based auctions |
US20050273420A1 (en) * | 2004-04-16 | 2005-12-08 | Lenin Subramanian | Method and system for customizable homepages for network-based auctions |
US20060004649A1 (en) * | 2004-04-16 | 2006-01-05 | Narinder Singh | Method and system for a failure recovery framework for interfacing with network-based auctions |
US7860749B2 (en) | 2004-04-16 | 2010-12-28 | Sap Ag | Method, medium and system for customizable homepages for network-based auctions |
US7788160B2 (en) | 2004-04-16 | 2010-08-31 | Sap Ag | Method and system for configurable options in enhanced network-based auctions |
US20050234804A1 (en) * | 2004-04-16 | 2005-10-20 | Yue Fang | Method and system for auto-mapping to network-based auctions |
US7447646B1 (en) * | 2004-09-23 | 2008-11-04 | Amazon Technologies, Inc. | Method and computer-readable medium for automated dynamic pricing of products with parameter-driven state transitions |
US8224708B1 (en) | 2004-09-23 | 2012-07-17 | Amazon Technologies, Inc. | Method and computer-readable medium for automated dynamic pricing of products with parameter-driven state transitions |
US8533058B1 (en) * | 2004-09-23 | 2013-09-10 | Amazon Technologies, Inc. | Method and computer-readable medium for automated dynamic pricing of products with parameter-driven state transitions |
US10430853B2 (en) | 2004-12-23 | 2019-10-01 | Ebay Inc. | Multiple format search result sets |
US10991023B2 (en) | 2004-12-23 | 2021-04-27 | Ebay Inc. | Multiple format search result sets |
US20070143205A1 (en) * | 2005-10-31 | 2007-06-21 | Sap Ag | Method and system for implementing configurable order options for integrated auction services on a seller's e-commerce site |
US8095428B2 (en) | 2005-10-31 | 2012-01-10 | Sap Ag | Method, system, and medium for winning bid evaluation in an auction |
US20070106595A1 (en) * | 2005-10-31 | 2007-05-10 | Sap Ag | Monitoring tool for integrated product ordering/fulfillment center and auction system |
US20070106596A1 (en) * | 2005-10-31 | 2007-05-10 | Sap Ag | Method and system for implementing multiple auctions for a product on a seller's e-commerce site |
US7895115B2 (en) * | 2005-10-31 | 2011-02-22 | Sap Ag | Method and system for implementing multiple auctions for a product on a seller's E-commerce site |
US20070150406A1 (en) * | 2005-10-31 | 2007-06-28 | Sap Ag | Bidder monitoring tool for integrated auction and product ordering system |
US8095449B2 (en) | 2005-11-03 | 2012-01-10 | Sap Ag | Method and system for generating an auction using a product catalog in an integrated internal auction system |
US7835977B2 (en) | 2005-11-03 | 2010-11-16 | Sap Ag | Method and system for generating an auction using a template in an integrated internal auction system |
US20070106597A1 (en) * | 2005-11-03 | 2007-05-10 | Narinder Singh | Method and system for generating an auction using a template in an integrated internal auction system |
US20070143206A1 (en) * | 2005-11-03 | 2007-06-21 | Sap Ag | Method and system for generating an auction using a product catalog in an integrated internal auction system |
US20070130045A1 (en) * | 2005-12-06 | 2007-06-07 | Auction Answers, Llc | Method and apparatus for tracking the progress of an auction |
US20070143201A1 (en) * | 2005-12-15 | 2007-06-21 | Swanson Daniel R Sr | Systems and methods for selling vehicle repossession rights |
US20080004977A1 (en) * | 2006-06-30 | 2008-01-03 | Fisher Jeffry R | Digital marketplace to facilitate transactions of creative works |
US20080059283A1 (en) * | 2006-08-31 | 2008-03-06 | Ebay Inc. | Method and system for opportunity distribution |
US20080071635A1 (en) * | 2006-09-15 | 2008-03-20 | Reapfield Technology Sdn. Bhd | Online transaction system |
GB2444085A (en) * | 2006-11-24 | 2008-05-28 | Bluesuite Ltd | Auctioning similar items |
US20080126240A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Automated Sales with Offer Grouping |
US20080126241A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Auctioning Similar Examples of an Item |
US20080126238A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Multi-Stage Automated Auctions |
US20080126242A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Automated Auctioning with a Reserve |
US7809611B2 (en) | 2006-11-24 | 2010-10-05 | Mediaequals Ltd | Multi-stage automated auctions |
US20080126239A1 (en) * | 2006-11-24 | 2008-05-29 | Latecard Limited | Automated Sales with Varying Discounts |
US20090287610A1 (en) * | 2008-05-13 | 2009-11-19 | Mediaequals Limited | Data Processing |
US20100020383A1 (en) * | 2008-07-28 | 2010-01-28 | Lucent Technologies Inc. | Thermal actuator for an infrared sensor |
US20100161442A1 (en) * | 2008-12-22 | 2010-06-24 | Cheng-Han Kuo | Interactive Electronic Trading Method |
US20110246320A1 (en) * | 2010-04-06 | 2011-10-06 | Cracka Ip Pty Ltd | Systems and methods for allocating units to users in an online environment |
US8392277B2 (en) * | 2010-04-06 | 2013-03-05 | Cracka Ip Pty Ltd | Systems and methods for allocating units to users in an online environment |
US20120166301A1 (en) * | 2010-12-23 | 2012-06-28 | Bruce Chen | Online transaction method and online transaction system |
US20130151367A1 (en) * | 2011-11-22 | 2013-06-13 | Integrated Holdings Llp | Systems and methods of providing a volume and revenue maximizing retail sales platform |
EP2783334A4 (en) * | 2011-11-22 | 2015-07-15 | Smart Skus Inc | Systems and methods of providing a volume and revenue maximizing retail sales platform |
US9904954B2 (en) | 2013-03-15 | 2018-02-27 | Ten-X, Llc | Flexible commercial loan pool |
US10956970B2 (en) | 2013-03-15 | 2021-03-23 | Auction.Com, Llc | Flexible data records for an online marketplace |
US10936432B1 (en) * | 2014-09-24 | 2021-03-02 | Amazon Technologies, Inc. | Fault-tolerant parallel computation |
US20190147470A1 (en) * | 2017-11-14 | 2019-05-16 | Yahoo Japan Corporation | Information processing apparatus and information processing method |
US11049179B2 (en) | 2018-02-12 | 2021-06-29 | Michael Ablanczy | Bilateral bidding platform for use in bulk sale of items in an electronic marketplace |
GB2585571A (en) * | 2018-02-12 | 2021-01-13 | Ablanczy Michael | Bilateral bidding platform for use in bulk sale of items in an electronic marketplace |
WO2019157349A3 (en) * | 2018-02-12 | 2020-04-16 | Ablanczy Michael | Bilateral bidding platform for use in bulk sale of items in an electronic marketplace |
CN109829741A (en) * | 2018-06-29 | 2019-05-31 | 傲佑科技(上海)有限公司 | A kind of commodity price automatic paragraphing successively decreases pricing method |
US11062385B2 (en) * | 2018-08-21 | 2021-07-13 | International Business Machines Corporation | Providing code offerings inside code |
Also Published As
Publication number | Publication date |
---|---|
US7062460B1 (en) | 2006-06-13 |
Similar Documents
Publication | Publication Date | Title |
---|---|---|
US7062460B1 (en) | On-line auction method and system facilitating the sale of multiple product units at prices varying with volume | |
US6564192B1 (en) | Method and system for differential index bidding in online auctions | |
US9576296B2 (en) | Automated system for adapting market data and evaluating performance in transactions | |
US6671674B1 (en) | Computer-based auction and sale system | |
US7124099B2 (en) | E-commerce volume pricing | |
US7689469B1 (en) | E-commerce volume pricing | |
US20010034663A1 (en) | Electronic contract broker and contract market maker infrastructure | |
US20090099933A1 (en) | Total value bidding | |
US20010047308A1 (en) | Concurrent dynamic pricing marketing and selling system | |
US20080162285A1 (en) | Method of transformational bidding with rebates and discounts | |
US20020004775A1 (en) | Online patent and license exchange | |
JP2001283030A (en) | Purchase desiring price investigation system, merchandise providing system, auction server, merchandise sales method, merchandise purchasing method, storage medium and program transmitter | |
CA2369111A1 (en) | Method and system for conducting electronic auctions with net present value bidding | |
US20040039680A1 (en) | Method and device for carrying out an electronic auction in a communications network | |
US8504466B2 (en) | Computerized auction software method for providing a discount off a high bid before a bid is placed | |
WO2001071580A1 (en) | Method and apparatus for bi-directionally auctioning between buyers and sellers using a computer network | |
Karabağ et al. | An empirical analysis of the main drivers affecting the buyer surplus in E-auctions | |
RU2005139577A (en) | METHOD AND SYSTEM OF DYNAMIC CALCULATION OF PRICES | |
US20030115127A1 (en) | Method of market basket bidding for surplus merchandise | |
US7634439B1 (en) | Method and apparatus to perform buy versus leasing transformational bidding | |
KR100413375B1 (en) | Collective purchasing method utilizing purchasing probability display means and the system of the same | |
WO2001045001A1 (en) | Article selling method using network system | |
KR20010094504A (en) | Bid type cooperative selling method using computer network | |
JP2002215952A (en) | Price decision system, price decision method and price deciding server | |
KR20000036795A (en) | Electronic commerce method |
Legal Events
Date | Code | Title | Description |
---|---|---|---|
STCB | Information on status: application discontinuation |
Free format text: ABANDONED -- FAILURE TO RESPOND TO AN OFFICE ACTION |
|
AS | Assignment |
Owner name: ENDUSE.COM, CALIFORNIA Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:GROWNEY, KEVIN;YOUSSI, PATRICK L;REEL/FRAME:020645/0760;SIGNING DATES FROM 20080213 TO 20080226 |
|
AS | Assignment |
Owner name: DUSIN ACCESS MGMT. L.L.C., DELAWARE Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNOR:ENDUSE.COM, INC.;REEL/FRAME:020815/0149 Effective date: 20080314 |