System and method for providing proxy-based online Dutch auction services

A system for providing proxy-based online Dutch auction services, the system coupled to a plurality of auction participant systems over a data network, each auction participant system associated with one of a plurality of auction participants, the system comprising:

• a processing unit;
• a memory wherein an operating system and an auction manager reside, the auction participant systems sending bids to the auction manager over the data network during the course of a Dutch auction for multiple items, each bid directed to one or more of the multiple items, the auction manager receiving and processing the bids, the auction manager retrieving for each auction participant system:
• (i) a quantity requested value specified by the associated auction participant, the quantity requested value indicating a number of items desired for purchase by the associated participant, and
• (ii) a proxy value specified by the associated auction participant, the proxy value indicating a maximum amount that the associated participant is willing to spend,
• the auction manager determining a ranking of the bids according to the proxy values specified by the associated participants, the auction manager recording one of the ranked bids as an accepted bid when a quantity of available items value is greater than or equal to the quantity requested value associated with the one bid, and as a partial bid when the quantity of available items value is less than the quantity requested value associated with the one bid, the auction manager setting a current bid amount according to whether the one bid is recorded as the accepted bid or the partial bid.

A system for providing proxy-based online Dutch auction services, the system coupled to a plurality of auction participant systems over a data network, each auction participant system associated with one of a plurality of auction participants, the system comprising:

• a processing unit;
• a memory wherein an operating system and an auction manager reside, the auction manager receiving and processing bids received over the data network from the auction participant systems during the course of a Dutch auction for multiple items, each bid associated with one of a plurality of auction participants, each bid directed to one or more of the multiple items, each bid including:
• (i) a quantity requested value indicating a number of items desired for purchase by the associated participant, and
• (ii) a proxy value indicating a maximum amount that the associated participant is willing to spend,
• the auction manager determining a ranking of the bids according to the proxy values specified by the associated participants, the auction manager recording one of the ranked bids as an accepted bid when a quantity of available items value is greater than or equal to the quantity requested value associated with the one bid, and as a partial bid when the quantity of available items value is less than the quantity requested value associated with the one bid, the auction manager setting a current bid amount according to whether the one bid is recorded as the accepted bid or the partial bid.

A system for providing proxy-based online Dutch auction services, the system coupled to a plurality of auction participant systems over a data network, each auction participant system associated with one of a plurality of auction participants, the system comprising:

• a processing unit;
• a memory wherein an operating system and an auction manager reside, the auction manager receiving and processing bids received over the data network from the auction participant systems during the course of a Dutch auction for multiple items, each bid associated with one of a plurality of auction participants, each bid directed to one or more of the multiple items, each bid including:
• (i) a quantity requested value indicating a number of items desired for purchase by the associated participant,
• (ii) a proxy value indicating a maximum amount that the associated participant is willing to spend, and
• (iii) a partial acceptance flag indicating whether the associated participant is wiling to accept a number of items less than the quantity requested value,
• the auction manager determining a ranking of the bids according to the proxy values specified by the associated participants, the auction manager recording one of the ranked bids as an accepted bid when a quantity of available items value is greater than or equal to the quantity requested value associated with the one bid, and as a partial bid when the quantity of available items value is less than the quantity requested value associated with the one bid, the auction manager setting a current bid amount according to whether the one bid is recorded as the accepted bid or the partial bid, the auction manager allocating the multiple items among the auction participants according to the ranking of the bids.