US 2014/0156438 A1 · Enhanced Online Dutch Auction with Seller Optimized Pricing Algorithms and Tabular Bidding Interface

Abstract

The invention is an online Dutch auction where sellers can optimize the auction's pricing algorithm and related parameters to suit their needs and market conditions. Using the pricing algorithm, the invention creates BidBlocks for each price point, and places them in a tabular format or calendar where appropriate to simplify bidding. The invention always presents a “Buy It Now” option to shoppers to purchase the item at the current discount, or alternatively allows bidding on future price points. Active bidders are displayed in a Leaderboard which summarizes their status and relative placement. Numerous other features enhance the operability and usefulness of this invention for both buyers and sellers.

Claims22

Dependent claims

A method of conducting an online auction with automatic price adjustments comprising the steps of:

(a) interfacing via a network between multiple client computing devices and a Web server running software applications and accessing a database to deliver requested content;
(b) establishing the starting price, floor price, and reserve price for the item, as well as descriptions, policies, instructions and procedures;
(c) establishing the starting quantity;
(d) selecting the pricing algorithm;
(e) selecting the criterion to start the pricing algorithm;
(f) accepting current purchase orders based on the current calculated price;
(g) accepting bids for purchase orders for price points that will occur in the future.

4 more elements

Dependencies are inferred from the claim text.

Enhanced Online Dutch Auction with Seller Optimized Pricing Algorithms and Tabular Bidding Interface

Life of this patent

Enhanced Online Dutch Auction with Seller Optimized Pricing Algorithms and Tabular Bidding Interface

Life of this patent

Abstract

Claims22