Online Timeshift Auctions
OwnerEdisher Kaghashviliinventor
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Abstract
A method for conducting online timeshift auctions is disclosed. Online timeshift auctions are slight, but qualitative modifications of the existing popular auctions where items are offered for a fixed time period. According to one embodiment, conducting a standard timeshift auction comprises the following steps: the seller sets the predetermined auction period (10), the timeshift interval (30) that determines a closing portion of the predetermined auction period (10), the starting price (12), etc. At the end of the predetermined auction period (10), the highest bidder who had placed at least a single bid before the countdown of the timeshift interval (30) started, obtains the item. Other embodiments are described and shown.
Claims8
A method for conducting online auctions comprising the steps of:
- (a) defining a fixed time period, the predetermined auction period in which the auction on a particular item is to take place,
- (b) defining a timeshift interval which determines a closing portion of said predetermined auction period,
- (c) selecting a winner of said auction at the end of said predetermined auction period to be the highest bidder who had placed at least a single bid before the countdown of said timeshift interval started.
A method for conducting reverse online auctions comprising the steps of:
- (a) defining a fixed time period, the predetermined auction period in which the auction on a particular item is to take place,
- (b) defining a timeshift interval which determines a closing portion of said predetermined auction period,
- (c) selecting a winner of said auction at the end of said predetermined auction period to be the lowest bidder who had placed at least a single bid before the countdown of said timeshift interval started.
Dependencies are inferred from the claim text.