US 2020/0027156 A1Published application

Methods and systems for online auctioning of items

OwnerWesley Palmer GAVINinventor

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Abstract

The present invention provides a system and method for facilitating an online auction of a plurality of items. The method includes determining an item ranking to each of the items to be auctioned in the online auction. The method includes dynamically receiving bids from a plurality of users, where each bid includes a payment value representing an interest of purchase for at least one item from among the plurality of items. The method further includes dynamically determining a bid ranking of each bid from the plurality of users. The bid rankings are determined based on a function of the payment value corresponding to respective bid. The method further includes determining a winning bid for each item from among the bids received from the users. Once the winning bid is determined, the method further includes determining a mapping of the items and a winning bid for each of the items.

Claims20

Dependent claims

A method for facilitating an online auction of a plurality of items, the method comprising:

accessing an item ranking of each of the plurality of items to be auctioned in the online auction, each of the plurality of items belonging to an item type from among a set of item types;
dynamically receiving bids from a plurality of users, each bid comprising a payment value representing an interest of purchase for at least one item from among the plurality of items;
dynamically determining a bid ranking of each bid from the plurality of users based on a function of the payment value corresponding to each bid and at least one item chosen in each hid;
determining winning bids for the plurality of items from among the bids received from the plurality of users, wherein a winning bid for an item is determined from among a set of bids for the item, and wherein the winning bid is determined based on a function of a set of bid rankings for the set of bids for the item, the item ranking and information of preference of the item in the set of bids;
and
determining a mapping of each of the plurality of items and corresponding winning bid for each of the plurality of items.

3 more elements

An online auction system, comprising:

a communication module for communicating with a plurality of user devices;
a database comprising stored instructions related to an online auction;
a processor configured to execute the stored instructions to perform a method comprising at least:
accessing an item ranking of each of a plurality of items to be auctioned in the online auction, each of the plurality of items belonging to an item type from among a set of item types;
dynamically receiving bids from a plurality of users, each bid comprising a payment value representing an interest of purchase for at least one item from among the plurality of items;
dynamically determining a bid ranking of each bid from the plurality of users based on a function of the payment value corresponding to each bid and at least one item chosen in each bid;
determining winning bids for the plurality of items from among the bids received from the plurality of users, wherein a winning bid for an item is determined from among a set of bids for the item, and wherein the winning bid is determined based on a function of a set of bid rankings for the set of bids for the item, the item ranking and information of preference of the item in the set of bids;
and
determining a mapping of each of the plurality of items and corresponding winning bid for each of the plurality of items.

6 more elements

Dependencies are inferred from the claim text.