Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items
a technology of system and method, applied in the field of system and method for improving the liquidity and distribution network of luxury items, to achieve the effect of improving the liquidity and distribution of various illiquid items
Inactive Publication Date: 2007-06-07
HEATON TIMOTHY +1
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Benefits of technology
[0007] Alternatively, liquidity and distribution of various illiquid items can be improved through the creation of a centralized data base and system for retrieving closing and current auction prices for determining the value of, and best method for auctioning: goods, services, real assets and securities. The systems and methods according to the invention provide a centralized computer data base(s) for storing relevant data on the auction item or auction object. The centralized data base is connected to various on-line auctions agents. In this way auction data on an item, preferably updated in real-time or at least updated at some pre-determined interval, can be accessible to all who need the information for valuation and determining the best auction method.
Problems solved by technology
Markets for luxury items such as diamonds and fine wine tend to be illiquid at least in part because of the difficulty in acquiring luxury items and the difficulty of bringing the luxury items to market.
Method used
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Embodiment Construction
[0019] This invention relates to creating systems and methods for providing futures and options contracts for luxury items—i.e., items that add to pleasure or comfort but are not absolutely necessary to survival of humans or animals. The following embodiment of the invention relates to diamonds. Nevertheless, this embodiment does not limit the invention to this particular subject matter. Rather, it is provided for illustration of the invention and not to limit it to a particular commodity or market.
[0020] Typically, diamonds are classified according to four main characteristics Lo determine the value of a diamond: clarity, color, cut, and carat weight (one carat 0.007 of an ounce).
[0021] Color of a diamond may include blue-white, finest white, fine white, white, commercial white, top silver cape, silver cape, light cape, cape, dark cape, finest light brown, fine light brown, light brown, and dark brown. Commercial color scales may be based on letters of the alphabet with AA being ...
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Systems and methods for improving the liquidity and distribution network for luxury and other illiquid items are provided. These systems and methods preferably include the trading of futures and options contracts, which will provide the liquidity and distribution network for luxury items. Possible embodiments of these systems and methods include the trading of futures and options contracts for diamonds and wine. Another embodiment of this invention preferably includes generating indexes for diamond prices, wine prices, luxury item prices, housing values, mortgage prepayments, privately-held companies or for anything with from sufficiently liquid points of value. Another embodiment of this invention preferably includes a centralized data base for retrieving closing and current auction prices for determining the value of, and best method for the auctioning of various items. The data provided by this data base would improve liquidity by creating greater price transparency.
Description
CROSS REFERENCE TO RELATED APPLICATION [0001] This application claims priority from U.S. Provisional Application No. 60 / 340,328 filed on Dec. 13, 2001.BACKGROUND OF THE INVENTION [0002] Markets for luxury items such as diamonds and fine wine tend to be illiquid at least in part because of the difficulty in acquiring luxury items and the difficulty of bringing the luxury items to market. The present invention relates to systems and methods for improving the liquidity and distribution network for luxury items. [0003] It would be desirable to provide systems and methods that provide the liquidity and distribution network for luxury items. SUMMARY OF THE INVENTION [0004] It is an object of this invention to provide systems and methods that provide the liquidity and distribution network for luxury items. [0005] In a system and method according to the invention, a user would be able to purchase or sell futures or options contracts for luxury items using a computer-based futures and option...
Claims
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Patent Timeline
Login to View More IPC IPC(8): G06Q40/00G06FG06Q30/02G06Q30/06G06Q30/08G06Q50/16
CPCG06Q30/0275G06Q30/0611G06Q30/08G06Q40/00G06Q40/04G06Q40/06G06Q50/16G06Q30/0205
Inventor HEATON, TIMOTHYLUTNICK, HOWARD W.
Owner HEATON TIMOTHY