Method, apparatus, and system for bidding in rounds

A method of conducting an auction, comprising:

• conducting a first auction among a plurality of bidders;
• awarding a contract to one or more winners of the first auction;
• and
• conducting a second auction among a set of bidders that only includes those bidders determined by a processor to have not been awarded a contract in the first auction;
• wherein if the first auction is a forward auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a seller seeks to sell;
• and
• wherein if the first auction is a reverse auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a buyer seeks to buy.

A system for conducting an auction, comprising:

• a sponsor processor;
• a first bidder processor communicating with said sponsor processor;
• and
• a second bidder processor communicating with said sponsor processor;
• wherein said sponsor processor contains instructions which, when executed by said processor, cause said processor to:
• conduct a first auction having a first set of bidders;
• designate one or more bidders in the first set of bidders as winners of the first auction;
• apply a rule to an occurrence in the first auction, the rule limiting participation of bidders in a second auction based on the occurrence in the first auction;
• determine participation of bidders from the first set of bidders in the second auction, in accordance with an application of the rule;
• conduct the second auction based on the determined participation;
• and
• designate one or more winners of the second auction;
• wherein if the first auction is a forward auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a seller seeks to sell;
• and
• wherein if the first auction is a reverse auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a buyer seeks to buy.

A computer readable storage medium having stored thereon instructions which, when executed by a processor, cause the processor to:

• conduct a first auction having a first set of bidders;
• apply a rule to an occurrence in the first auction, the rule limiting participation of bidders in a second auction based on the occurrence in the first auction;
• and
• conduct the second auction based on the determined participation;
• wherein if the first auction is a forward auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a seller seeks to sell;
• and
• wherein if the first auction is a reverse auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a buyer seeks to buy.

A bidding device operated by a bidder during an online auction, said bidding device comprising:

• a memory configured to store one or more bids received from the bidder;
• and
• a communication interface configured to submit the one or more bids to a sponsor processor during a first auction;
• wherein the sponsor processor is configured to apply a rule to an occurrence in the first auction, the rule limiting participation of bidders in a second auction based on the occurrence in the first auction;
• and
• wherein the bidding device is selectively enabled to determine participation of the bidder in the second auction in accordance with an application of the rule, and to allow the bidder to submit bids to the sponsor processor in the second auction based on the determined participation;
• wherein if the first auction is a forward auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a seller seeks to sell;
• and
• wherein if the first auction is a reverse auction, that which is auctioned in the first and second auctions represents a first portion and a second portion, respectively, of what a buyer seeks to buy.