# US 2018/0025418 A1 · Systems and Methods for Setting Up Sale Transactions for an Online Auction > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 2018/0025418 A1 - Document ID: US20180025418A1 - Status: Published application - Kind: A1 - Application number: 15/655,858 - Filed: 2017-07-20 - Published: 2018-01-25 - Earliest claimed: 2016-07-20 - Applicants: Ninkasi Technologies, LLC - Inventors: Jefferson Dean Slater; Elieser J. Aschkenasy - Web page: https://patentgrep.com/patent/US20180025418A1 ## CPC - G06Q 30/08: Auctions - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract Systems and methods for setting up and conducting the sale of regulated goods using an auction are provided. The methods include receiving information of one or more auction entries from a seller through a user interface, selecting at least one from the one or more auction entries for each buyer being logged into the auction system, receiving one or more bids from the buyer through the user interface for the at least one selected auction entry, selecting one or more bids among the received bids for each of the selected auction entries for the each buyer, generating one or more sale transactions for each of the selected auction entries between a corresponding buyer and a corresponding seller and informing the generated one or more sale transactions to the corresponding buyer and the seller of the auction entry. ## Claims ### Claim 1 A method for setting up one or more sale transactions on an auction system, the method comprising: receiving information of a plurality of auction entries from one or more sellers of a plurality of sellers through a user interface of the one or more sellers, wherein the information includes a lot size of an auction entry of the plurality of auction entries; selecting at least one auction entry from the plurality of auction entries for one or more buyers of a plurality of buyers being logged into the auction system; receiving one or more bids from at least one buyer of the one or more buyers through a user interface of the at least one buyer for the at least one selected auction entry; selecting one or more bids among the one or more received bids for the at least one selected auction entry; generating one or more sale transactions for the at least one selected auction entry between a corresponding buyer of the plurality of buyers and a corresponding seller of the plurality of sellers; and informing the corresponding buyer and the corresponding seller of the at least one selected auction entry of the generated one or more sale transactions. ### Claim 2 (depends on 1) The method of claim 1, wherein selecting at least one auction entry from the plurality of auction entries for one or more buyers of a plurality of buyers being logged into the auction system further comprises selecting at least one auction entry from the plurality of auction entries in view of government regulations applicable to a good being sold in conjunction with the at least one auction entry. ### Claim 3 (depends on 1) The method of claim 1, wherein the bid comprises a bid price, an order amount, and a desired sale location. ### Claim 4 (depends on 3) The method of claim 3, wherein the one or more received bids is a plurality of received bids, the selecting one or more bids among the plurality of received bids for the at least one auction entry further comprises: ordering the plurality of received bids in a descending order of the bid price; and selecting at least one bid of the plurality of received bids until a total amount of the order amount of the at least one selected bid exceeds the lot size of the corresponding auction entry. ### Claim 5 (depends on 4) The method of claim 4, wherein a sale price for the generated sale transaction is determined according to the bid prices of the selected bids. ### Claim 6 (depends on 5) The method of claim 5, wherein the sale price for the generated sale transaction is the same as the bid price for the corresponding bid or the sale price is the same as the lowest bid price of the at least one selected bid. ### Claim 7 (depends on 4) The method of claim 4, wherein selecting at least one bid of the plurality of received bids further comprises selecting one or more bids from the plurality of received bids that are equal to or greater than a reserve price of the corresponding auction entry. ### Claim 8 (depends on 1) The method of claim 1, wherein the information of an auction entry further comprises a flag for allowing a partial sale and, if a partial sale of an auction entry is not allowed and the total amount of selected bids does not exceed the lot size of the auction entry, no sale transaction is created. ### Claim 9 A system for setting up one or more auction sale transactions, the system comprising: a storage device configured to receive and store information related to a plurality of auction entries from one or more sellers of a plurality of sellers, the information including a lot size of each auction entry; and a processor in communication with the storage device to allow the processor to access and perform various functions in view of the information stored by the storage device, the processor configured to: access the information from the storage device; select at least one auction entry from the plurality of auction entries for each buyer of a plurality of buyers being logged into the auction system; receive one or more bids from one or more buyers of the plurality of buyers for the at least one selected auction entry; select one or more bids among the one or more received bids for the at least one selected auction entry; generate one or more sale transactions for the at least one selected auction entry between a corresponding buyer of the plurality of buyers and a corresponding seller of the plurality of sellers; and inform the corresponding buyer and the corresponding seller of the at least one auction entry of the generated one or more sale transactions. ### Claim 10 (depends on 9) The system of claim 9, wherein the processor is further configured to select at least one auction entry from the plurality of auction entries for each buyer of a plurality of buyers being logged into the auction system in view of government regulations applicable to a good being sold in conjunction with the at least one auction entry. ### Claim 11 (depends on 9) The system of claim 9, wherein the bid comprises a bid price, an order amount, and a desired sale location. ### Claim 12 (depends on 11) The system of claim 11, wherein the one or more received bids is a plurality of received bids, and wherein the processor further orders the plurality of received bids in a descending order of the bid price and selects at least one bid of the plurality of received bids until a total amount of the order amount of the selected bids exceeds the lot size of the corresponding auction entry. ### Claim 13 (depends on 12) The system of claim 12, wherein a sale price for the generated sale transaction is determined according to the bid prices of the selected bids. ### Claim 14 (depends on 13) The system of claim 13, wherein the sale price for the generated sale transaction is same as the bid price for the corresponding bid or the sale price is the same as the lowest bid price of the at least one selected bid. ### Claim 15 (depends on 12) The system of claim 12, wherein the selection of at least one bid of the plurality of received bids is performed such that selected bids are bids that are equal to or greater than a reserve price of the corresponding auction entry. ### Claim 16 (depends on 9) The system of claim 9, wherein the information of an auction entry further comprises a flag for allowing partial sale and, the processor is configured such that if partial sale of an auction entry is not allowed and the total amount of selected bids does not exceed the lot size of the auction entry, no sale transaction is created. ### Claim 17 A method for setting up one or more sale transactions on an auction system, the method comprising: generating a plurality of auction entries for a plurality of batches of sales; for each user being logged into the auction system, selecting one or more of the plurality of auction entries considering regulations governing sales between the user and a seller of each of the plurality of auction entries; receiving bids from the user for one or more auction entries, the bids including a bid price and an order amount; for each of the plurality of auction entries, selecting one or more bids among the received bids for the auction entry with the bids being disposed in a descending order of the bid price of the received bids until a sum of the corresponding order amount exceeds an amount of the auction entry, and determining a sale price for the auction entry based on the selected bids; and setting up one or more sale transactions for each of the plurality of auction entries having a determined sale price between a corresponding user and the seller of the auction entry. ### Claim 18 (depends on 17) The method of claim 17, wherein selecting one or more bids among the received bids for the auction entry further comprises selecting one or more bids that are equal to or greater than a reserve price of the corresponding auction entry. ### Claim 19 (depends on 17) The method of claim 17, wherein information of an auction entry of the plurality of auction entries further comprises a flag for allowing a partial sale and, if a partial sale of an auction entry is not allowed and the total amount of selected bids does not exceed the lot size of the auction entry, no sale transaction is created.