Automated proxy bidding

Abstract

The present invention provides a method, program and system for automated proxy bidding in an auction. The invention includes defining a desired price position relative to competing bids based on qualitative ratings associated with competing bidders and submitting a bid related to a product. Competing bids are retrieved along with the qualitative ratings associated with each competing bidder, and a determination is made as to whether the submitted bid achieves the desired price position relative to the competing bids. If the submitted bid does not achieve the desired price position relative to the competing bids, the bid is adjusted according to a predefined sequence of price moves. The desired price position might have a specified premium relative to competing bidders with lower qualitative ratings and a specified discount relative to competing bidders with comparable and higher qualitative ratings.

Dependencies are inferred from the claim text.