Method and system for differential index bidding in online auctions
US6564192B1 · kind B1 · utility
125Cited by
34References
25Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Jun 8, 1999 |
| Grant date | May 13, 2003 |
| Priority date | — |
| Expiry date | Jun 8, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for conducting electronic online auctions between a plurality of potential bidders using differential index bidding is disclosed. The originator of the auction specifies one or more indexes as the basis for establishing a competitive price point. The index can be a published market index, or a proprietary price array developed by the buyer. The bidders specify bids as a percentage or absolute amount off of the one or more indexes. The originator of the auction compares the submitted bids and provides feedback to the bidders.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.