Endurance auction system and method

An auction server for providing auction result notifications of an auction for a first property comprising:

• an auction timer for accessing an auction duration time;
• a bid receiver for opening the auction for reception of bid signals and receiving bid signals from a multiplicity of bidder terminals after opening the auction;
• a set of endurance timers, at least one endurance timer in the set of endurance timers being updated in response to each of the bid signals received, each endurance timer accumulating a winning bid time measurement corresponding to a time between each bid signal received from a corresponding bidder terminal and a subsequent bid signal received from another bidder terminal of the multiplicity of bidder terminals;
• a price tracker for increasing a bid value of the first property in response to each of the bid signals received;
• said bid receiver further for closing the auction upon completion of the auction duration time;
• and
• an auction status and result module for transmitting a first auction result notification to a first bidder terminal from which a last bid was received prior to the closing of the auction, and transmitting a second auction result notification to a second bidder terminal, the second bidder terminal corresponding to a one of the set of endurance timers having a maximum value upon the closing of the auction.

A durable, non-transitory computer readable storage medium comprising a computer program which instructs a computer to perform a method of providing auction result notifications of an auction for a first property, the method comprising:

• accessing an auction duration time;
• opening the auction for reception of bid signals;
• receiving bid signals from a multiplicity of bidder terminals after opening the auction;
• updating at least one endurance timer in a set of endurance timers in response to each of the bid signals received, each endurance timer accumulating a winning bid time measurement corresponding to a time between each bid signal received from the corresponding bidder terminal and a subsequent bid signal received from another bidder terminal of the multiplicity of bidder terminals;
• increasing a bid value of the first property in response to each of the bid signals received;
• closing the auction upon completion of the auction duration time;
• and
• transmitting an auction result notification to a bidder terminal corresponding to a one of the set of endurance timers having a maximum value upon the closing of the auction.