Seller dashboard and reserve price lowering
AssigneeAuction.com, LLC
InventorRobert Friedman
Life of this patent
Estimating the term…
Abstract
A method and system for a seller auction dashboard and reserve price lowering are described. The system generates a dashboard presentation that displays real-time information about each of a seller's auctions including a current price, reserve price, and an indicator of whether the latest bid was set by a prospective buyer or the seller masquerading as a buyer. The dashboard also indicates which auctions are below their reserve prices and displays reserve price suggestions and success probabilities based on qualitative and quantitative metrics.
Claims15
A method for conducting an online auction, the method being implemented by one or more processors and comprising:
- identifying an auction in a set of auctions associated with a seller;
- generating one or more reserve price suggestions for the auction based on at least one qualitative or quantitative metric;
- generating a corresponding set of probabilities which indicate a likelihood of the auction reaching each of the reserve price suggestions;
- and
- communicating to the seller the one or more reserve price suggestions and the corresponding set of probabilities.
A computer system comprising:
- a memory resource that stores a set of instructions;
- a database that stores a set of auction records;
- one or more processors that use instructions in a set of auctions to:
- identify, from the database, a set of multiple auctions in progress that belong to a seller;
- generate a presentation that displays real-time information about each auction in the set of multiple auctions of the seller, the real-time information including a current price of the auction, a reserve price of the auction, and an indicator as to whether a bid that set the current price originated from a prospective buyer or the seller;
- generate one or more reserve price suggestions for each auction in the set of multiple auctions in progress based on at least one qualitative or quantitative metric;
- and
- indicate, on the presentation, (i) each auction for which the current price exceeds the reserve price, (ii) each auction for which the current price is less than the reserve price, and (iii) the one or more reserve price suggestions.
A non-transitory machine-readable media containing instructions that, when executed by a processor, perform operations comprising:
- identifying an auction in a set of auctions associated with a seller;
- generating one or more reserve price suggestions for the auction based on at least one qualitative or quantitative metric;
- generating a corresponding set of probabilities which indicate a likelihood of the auction reaching each of the reserve price suggestions;
- and
- communicating to the seller the one or more reserve price suggestions and the corresponding set of probabilities.
Dependencies are inferred from the claim text.