Wholesale/trade-in pricing system, method and computer program product therefor
US10504159B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 19, 2013 |
| Grant date | Dec 10, 2019 |
| Priority date | — |
| Expiry date | Oct 19, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems, methods and computer program products that determine wholesale prices for durable goods such as used vehicles. In one embodiment, a system includes a computer processor, a network interface, a data storage device, and an output device. The system collects and stores, via the network interface, historical sales information from external data sources. A retail price for a target vehicle is determined based on the collected information. Condition information for the vehicle is collected and used to adjust the retail price to arrive at a wholesale price, which is output to a user. The system may also adjust the price based on repair costs associated with identified vehicle conditions. The system may collect cost information associated with a wholesale sale transaction and deduct these costs and a profit margin from the wholesale price to produce a trade-in price.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.