Method and apparatus for holding an online live auction to combine features of both the Internet and traditional, real world auctions
US7797222B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 1, 2005 |
| Grant date | Sep 14, 2010 |
| Priority date | — |
| Expiry date | Mar 31, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/188
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and apparatus are provided for conducting a live auction that combines various features of traditional and online auctions. According to one aspect of the present invention, the live auction includes a live, in-person auction component and a real-time 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 be accepted from an online bidder in the online environment that reflects the online bidder's bid price for the item. Subsequently, the system bids on behalf of the online bidder against other online bidders as well as one or more live bidders that are participating in the live, in-person. As such, the live auction enables real-time online bidding in a live, in-person auction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.