Method and system for conducting electronic auctions with multi-parameter price equalization bidding

A system for conducting an electronic online auction on behalf of a buyer, wherein the auction is between a plurality of potential bidders competing to supply a lot having at least one product to the buyer, the system comprising:

• means for receiving electronically at a server first bid information for a lot from a first bidder of a first remote site over a network, said received first bid information representing a first bid that is originally defined in a context of said first bidder;
• means for generating a transformed bid according to one or more first non-comparative bid parameters associated with the first bidder using a first transform function associated with the first bidder, the first transform function operative on the first bid information and the first non-comparative bid parameters, wherein one or more of the first non-comparative parameters and the first transform function being known only to the buyer;
• means for storing information reflective of said submitted first bid, said stored information enabling a relative comparison of submitted bids including said first bid on a common competitive basis;
• means for converting within the server the transformed bid into a second bid information defined in a context of a second bidder according to one or more second non-comparative bid parameters associated with the second bidder, using a second transform function associated with the second bidder, the second transform function operative on the transformed bid and the second non-comparative bid parameters, wherein one or more of the second non-comparative parameters and the second transform function being known only to the buyer, wherein the second non-comparative parameters being different from than the first non-comparative parameters, and wherein the second transform function being different than the first transform function;
• and
• means for transmitting electronically the second bid information to the second bidder over the network, said transmitted second bid information enabling said second bidder to view said first bid originally defined in said context of said first bidder in said context of said second bidder, such that the second bidder is able to view other bid information from other bidders including the first bidder in view of a specific format desired by the second bidder, wherein the first bidder and the second bidder are different seller parties, and the buyer is different from the first bidder and the second bidder.

A computer program product for enabling a processor in a computer system to process bidding information in an auction conducted on behalf of a buyer, wherein the auction is between a plurality of bidders competing to supply a lot having at least one product to the buyer, said computer program product comprising:

• a computer readable medium having a computer readable program code embodied in said medium for causing an application program to execute on the computer system, said computer readable program code comprising
• a first computer readable program code to receive electronically first bid information for the lot from a first bidder of a first remote site over a network, said received first bid information representing a first bid that is originally defined in a context of said first bidder;
• a second computer readable program code to generate a transformed bid according to one or more first non-comparative bid parameters associated with the first bidder using a first transform function associated with the first bidder, the first transform function operative on the first bid information and the first non-comparative bid parameters, wherein one or more of the first non-comparative parameters and the first transform function being known only to the buyer;
• a third computer readable program code to store information reflective of said submitted first bid, said stored information enabling a relative comparison of submitted bids including said first bid on a common competitive basis;
• a fourth computer readable program code to convert the transformed bid information into a second bid information defined in a context of a second bidder according to one or more second non-comparative bid parameters associated with the second bidder, using a second transform function associated with the second bidder, the second transform function operative on the transformed bid and the second non-comparative bid parameters, wherein one or more of the second non-comparative parameters and the second transform function being known only to the buyer, wherein the second non-comparative parameters being different than the first non-comparative parameters, and wherein the second transform function being different than the first transform function;
• and
• a fifth computer readable program code to electronically transmit second bid information to the second bidder, said transmitted second bid information enabling said second bidder to view said first bid originally defined in said context of said first bidder in said context of said second bidder, such that the second bidder is able to view other bid information from other bidders including the first bidder in view of a specific format desired by the second bidder, wherein the first bidder and the second bidder are different seller parties, and the buyer is different from the first bidder and the second bidder.