Sales mechanism and digital interface therefor

A computer system for conducting a sales process, the computer system comprising:

• a server computer comprising:
• at least one processor executing executable code;
• and
• at least one memory device communicating with the at least one processor accessible via a computer network and storing the executable code, wherein the executable code, when executed by the at least one processor, causes the at least one processor to:
• generate and transmit, via the computer network, a signal to a plurality of bidder computing devices and a sales facilitator computing device, the signal being representative of a web site for offering for sale and selling an item of real estate, the web site comprising a plurality of instances of graphical interfaces comprising activable graphics capable to be activated via the sales facilitator computing device and comprising a plurality of instances of graphical interfaces comprising activable graphics capable to be activated via the bidder computing devices;
• receive, via the computer network, signals from the sales facilitator computing device generated via the sales facilitator graphical interface, the signals relating to:
• information relating to the item;
• and
• parameters for controlling the sales process including a cost of buying the item now, a reserve price, and a number of time periods;
• store, responsive to the signals, the information relating to the item and parameter values in the memory device;
• start a countdown timer, executing in the at least one processor, for measuring a first period of time, the at least one processor transmitting via the computer network a signal to each bidder computing devices to display the time remaining for visualization by the bidders;
• receive, via the computer network, signals from the bidder computing devices via the bidder graphical interfaces, the signals relating to information relating to the respective bidder including terms of engagement proposed by the bidder and approved by the sales facilitator to enable the bidders to participate in the sales process, wherein the terms of engagement include purchase terms relating to the item of real estate;
• store, responsive to the signals, the information and parameter values relating to the signals from the bidder computing devices in the memory device;
• determine a ranking value for each bidder based on a comparison of the purchase terms proposed by the bidder with preferred purchase terms approved by the sales facilitator and storing said ranking values in the memory device;
• receive by the server, via the computer network, signals from one or more of the bidder computing devices generated in response to bidder activation of a first icon which is activable to allow each of the bidders to input a starting bid for purchasing the item;
• generate and transmit, via the computer network a signal to the plurality of bidder computing devices, the signal causing the bidder computing devices to display, once the first icon has been activated by any of the bidders, to each of the bidders via the bidder devices, a second icon which is activable to allow one of the bidders to submit an improved bid which has the value of a bid increment added to the starting or the previously improved bid, the at least one processor storing the improved bid in the memory device;
• while the first particular period of time is less than a first period of time, iteratively repeating steps a) and b):
• a) when the first particular period of time is less than a difference between the first and a second time period, then the at least one processor receiving signals from bidder computing devices relating to activation of the second icon thereby allowing the bidder to continuously improve their bid;
• b) when the first particular period of time is less than a difference between the first and second time periods, impeding the bidders from activating the first icon;
• start a second countdown timer, executing in the processor, to measure a second particular period of time and iteratively performing the following step of:
• displaying to each of the bidders via the bidder devices, a third icon which is activable to allow a particular bidder to improve their bid;
• while the second particular period of time is less than a third period of time and the improved bid is less than the reserve price, permitting any bidder to activate the third icon to improve their bid;
• reset the second countdown timer, executing in the at least one processor, to zero when any improved bid is greater than or equal to the reserve price and starting a third countdown timer, by the processor, to measure a third particular period of time, the at least one processor sending a signal to the bidder computing devices to display the remaining time measured by the third countdown timer, and, while the third particular period of time is less than a fourth period of time iteratively performing the step of:
• permitting any bidder to activate the third icon to improve its previous bid;
• determine which at least two bidders have the highest improved bids when compared to the other bidders;
• determine which of the at least two bidders have a higher ranking value;
• and
• sell the item to one of at least two bidders on the basis of at least one of:
• the bidder's highest improved bids and ranking value.

A non-transitory computer readable storage medium storing one or more programs, the one or more programs comprising instructions that, when rendered on a remote computing device, cause the remote computing device to display a web site comprising a plurality of graphical interfaces capable to be activated by a sales facilitator or a plurality of graphical interfaces capable to be activated by a particular bidder when the remote computing device is connected over the internet to a server computer comprising at least one processor executing executable code and at least one memory device communicating with the processor accessible via a computer network and storing the executable code, wherein the executable code, when executed by the at least one processor, causes the at least one processor to:

• generate and transmit, via the computer network, a signal to a plurality of bidder computing devices and a sales facilitator computing device, the signal being representative of a web site for offering for sale and selling an item of real estate, the web site comprising a plurality of instances of graphical interfaces comprising activable graphics capable to be activated via the sales facilitator computing device and comprising a plurality of instances of graphical interfaces comprising activable graphics capable to be activated via the bidder computing devices;
• receive, via the computer network, signals from the sales facilitator computing device generated via the sales facilitator graphical interface, the signals relating to:
• information relating to the item;
• and
• parameters for controlling the sales process including a cost of buying the item now, a reserve price and a number of time periods;
• store, responsive to the signals, the information relating to the item and parameter values in the memory device;
• start a countdown timer executing in the at least one processor for measuring a first period of time, the at least one processor transmitting via the computer network a signal to each bidder computing devices to display the time remaining for visualization by the bidders;
• receive, via the computer network, signals from the bidder computing devices via the bidder graphical interfaces, the signals relating to information relating to the respective bidder including terms of engagement proposed by the bidder and approved by the sales facilitator to enable the bidders to participate in the sales process, wherein the terms of engagement include purchase terms relating to the item of real estate;
• store, responsive to the signals, the information and parameter values relating to the signals from the bidder computing devices in the memory device;
• determine a ranking value for each bidder based on a comparison of the purchase terms proposed by the bidder with preferred purchase terms approved by the sales facilitator and storing said ranking values in the memory device;
• receive by the server, via the computer network, signals from one or more of the bidder computing devices generated in response to bidder activation of a first icon which is activable to allow each of the bidders to input a starting bid for purchasing the item;
• generate and transmit, via the computer network, a signal to the plurality of bidder computing devices, the signal causing the bidder computing devices to display, once the first icon has been activated by any of the bidders, to each of the bidders via the bidder devices, a second icon which is activable to allow one of the bidders to submit an improved bid which has the value of a bid increment added to the starting or the previously improved bid, the at least one processor storing the improved bid in the memory device;
• while the first particular period of time is less than a first period of time, iteratively repeating steps a) and b):
• a) when the first particular period of time is less than a difference between the first and a second time period, then the at least one processor receiving signals from bidder computing devices relating to activation of the second icon thereby allowing the bidder to continuously improve their bid;
• b) when the first particular period of time is less than a difference between the first and second time periods, impeding the bidders from activating the first icon;
• start a second countdown timer, executing in the processor, to measure a second particular period of time and iteratively performing the following step of:
• displaying to each of the bidders via the bidder devices, a third icon which is activable to allow a particular bidder to improve their bid;
• while the second particular period of time is less than a third period of time and the improved bid is less than the reserve price, permitting any bidder to activate the third icon to improve their bid;
• reset the second countdown timer, executing in the at least one processor, to zero when any improved bid is greater than or equal to the reserve price and starting a third countdown timer, by the processor, to measure a third particular period of time, the at least one processor sending a signal to the bidder computing devices to display the remaining time measured by the third countdown timer, and, while the third particular period of time is less than a fourth period of time iteratively performing the step of:
• permitting any bidder to activate the third icon to improve its previous bid;
• determine which at least two bidders have the highest improved bids when compared to the other bidders;
• determine which of the at least two bidders have a higher ranking value;
• and
• sell the item to one of at least two bidders on the basis of at least one of:
• the bidder's highest improved bids and ranking value.