System and method for determining valuation of items using price elasticity information
AssigneeAuction.com, LLC
InventorJake Seid
Life of this patent
Estimating the term…
Abstract
A valuation of a subject item includes determining a transaction price for one or more comparable items. For each comparable transaction, one or more unsuccessful offers is determined. The valuation of the subject item may be based on a valuation of each of the one or more comparable items, and the valuation of each of the one or more comparable items may be based at least in part on the one or more unsuccessful offers for that item.
Claims26
A method for determining a valuation of a subject item, the method being implemented by one or more processors and comprising:
- determining multiple comparable transactions;
- identifying a set of offers for each of the comparable transactions, the set of offers for each comparable transaction including multiple offers, including one or more unsuccessful offers;
- calculating the valuation for the subject item based on each offer from the set of offers of at least some of the comparable transactions.
A method for determining a valuation of a subject item, the method being implemented by one or more processors and comprising:
- determining a set of comparable transactions, wherein each comparable transaction of the set is for a corresponding item that is deemed similar to the subject item;
- for each the comparable transaction of the set, (i) identifying one or more unsuccessful offers, and (ii) determining a alternative probable valuation for the corresponding item of that transaction based at least in part on the one or more unsuccessful offers;
- and
- determining the valuation of the subject item based at least in part on the alternative probable valuation of each comparable transaction in the set.
A method for determining a valuation of a subject item, the method being implemented by one or more processors and comprising:
- determining a candidate set of comparable transactions, wherein each comparable transaction of the candidate set is for a corresponding item that is deemed similar to the particular item;
- for each the comparable transaction of the candidate set, determining an elasticity in the transaction price of that comparable transaction based at least in part on a difference between the transaction price and one or more unsuccessful offers;
- and
- determining each comparable transactions of the candidate set that has the determined elasticity of the transaction price exceed a threshold;
- and
- determining the valuation of the subject item based at least in part by weighting down or eliminating the comparable transactions of the candidate set which have the elasticity of the transaction price exceeding a designated threshold.
A method for determining a valuation of a subject item, the method being implemented by one or more processors and comprising:
- identifying a transaction price for one or more comparable items of the subject item;
- identifying one or more unsuccessful offers for each of the one or more comparable items;
- determining the valuation of the subject item based at least in part on the one or more unsuccessful offers for each of the one or more comparable items.
Dependencies are inferred from the claim text.