Integrated auction
US7162446B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 8, 1999 |
| Grant date | Jan 9, 2007 |
| Priority date | — |
| Expiry date | Dec 8, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and apparatus are provided for conducting an integrated auction that incorporates various features of traditional and online auctions. According to one aspect of the present invention, the integrated auction includes a live, in-person auction component and an online bidding environment component. Bidding information associated with an item in the online bidding environment is updated to reflect a current bid associated with the item in the live, in-person auction. During the live, in-person auction, a bid is accepted from an online bidder in the online environment that reflects a maximum price the online bidder is willing to pay for the item. Subsequently, the system bids on behalf of the online bidder against one or more live bidders that are participating in the live, in-person auction based upon the maximum price.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.