Computer-based electronic bid, auction and sale system, and a system to teach new/non-registered customers how bidding, auction purchasing works

US6012045A · kind A · utility

Inventors

• Nizan Barzilai · Hollywood, US
• Ron Davidson · Carp, CA

Key dates

• Filing date: Jul 1, 1997
• Grant date: Jan 4, 2000
• Expiry date: Jul 1, 2017

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The computer-based method of selling consumer products and consumer services includes, in one embodiment, the utiltization of a computer system, which maintains the electronic bid, auction and sales records, and a plurality of customer computers interconnected with the computer system via a telecommunications link. The computer system electronically establishes a virtual showroom accessible by the customer's computers which displays consumer goods and services and information regarding the commonly available selling price for each product and service. For example, the system displays the manufacturer's suggested retail price or MSRP, a minimum opening bid price, information regarding the make, model and manufacturer or distributor of the offered product or service, and bid cycle data revealing the open, close and acceptance dates for the bids. The computer-based method electronically posts all bids made by bidders on the products and services during the bid period. The system accepts the highest bid while excluding bids greater than the lowest high bid from a single bidder. The system further electronically consummates the sale. Each bid costs the bidder a predetermined amount of m…