Internet Auction System

Abstract

Various methods and systems for auctioning mutually exclusive items such as golf tee times, restaurant reservations, concert tickets or hotel reservations are disclosed. Mutually exclusive can refer to items that cannot be possessed simultaneously because of physical limitations or to multiple items that could be simultaneously physically possessed but the bidder would only want possession of, at most, one of the items. An electronic auction method therefore performs the following operations: (1) an ordered processing of ranked bids to compare currently active bids with current winning bids to determine the new winning bids; (2) notifying unsuccessful bidders via e-mail to increase their bids; (3) comparing the new bid amount to all outstanding active and winning bids if the unsuccessful active bid is increased; (4) designating the active bid an inactive bid and designating the next highest ranked bid as the user's current active bid if the unsuccessful bid is not increased in the allotted time; and, (5) continuing the protocol until all bidders either have a winning bid or no remaining active bids. An auction system includes a Central Auction Controller (CAC) that allows sellers to list items for auction and users to enter bids and rank orderings. The CAC maintains a central database comprising a database of user information, a database of items and bids and a database of vendor information. Administration of the system is accomplished via an I / O device and CPU and an optional e-mail processor allows automated messaging to users. This methodology allows users to effectively bid on a large number of mutually exclusive items but receive at most one item at the end of the auction. This method has the favorable effects for the users of: (1) increasing the probability of successfully bidding for at least one item; (2) making the auction process more convenient by greatly reducing the need for actively monitoring the auction; and, (3) decreasing the possibility a user will be out bid at the last moment and receive no item. This method has the favorable effects for the seller of increasing the probability their listed items will sell and increasing the expected average sales price.

Description

FIELD OF THE INVENTION

[0001] The present invention is directed to systems and methods for performing automated auctions, and specifically those auctions involving bidding on items that are somewhat mutually exclusive, and / or those types of auctions which are resolved on a collective basis with reference to more than one demand constraint provided in a bid. BACKGROUND OF THE INVENTION

[0002] The practice of online auctions has grown at a dramatic pace. Auction sites have been developed for a wide range of products. This has resulted in an active, dynamic pricing environment for many products. The standard auction practice may result in the maximization of the seller's revenue in some instances. Additional information on electronic auction and bidding systems can be found in such U.S. patents as U.S. Pat. Nos. 6,041,308, 6,021,398, 6,012,046, 6,012,045, 5,924,082, 5,835,896, 5,845,266 and 5,689,652, which are hereby incorporated by reference herein. Commercial examples of auctions sy...

Examples

Embodiment Construction

[0071] A detailed explanation of the preferred embodiments is now provided as illustrated in the drawings and discussed herein.

[0072]FIG. 1 shows a preferred system 10 for the auction of mutually exclusive items. As described herein, while a preferred embodiment uses a particular tee time at a particular golf course as the “item” for auction, it will be understood that the term is intended in its broadest sense, and the invention is not limited in this respect. Thus, an “item” can refer to any number of tangible articles and intangible properties, or to a right of access or use to a particular facility (such as a travel seat, hotel room, restaurant seat, concert seat, etc.) Moreover, the term “mutually exclusive” in this regard is meant from the perspective that a would-be purchaser is perhaps only interested in owning one of the items (i.e., such as only one tee time on a particular day) even if he / she bids on more than one item at a time, and / or that it is not possible to own mor...

FIELD OF THE INVENTION

[0001] The present invention is directed to systems and methods for performing automated auctions, and specifically those auctions involving bidding on items that are somewhat mutually exclusive, and / or those types of auctions which are resolved on a collective basis with reference to more than one demand constraint provided in a bid. BACKGROUND OF THE INVENTION

[0002] The practice of online auctions has grown at a dramatic pace. Auction sites have been developed for a wide range of products. This has resulted in an active, dynamic pricing environment for many products. The standard auction practice may result in the maximization of the seller's revenue in some instances. Additional information on electronic auction and bidding systems can be found in such U.S. patents as U.S. Pat. Nos. 6,041,308, 6,021,398, 6,012,046, 6,012,045, 5,924,082, 5,835,896, 5,845,266 and 5,689,652, which are hereby incorporated by reference herein. Commercial examples of auctions sy...

Examples

Embodiment Construction

[0071] A detailed explanation of the preferred embodiments is now provided as illustrated in the drawings and discussed herein.

[0072]FIG. 1 shows a preferred system 10 for the auction of mutually exclusive items. As described herein, while a preferred embodiment uses a particular tee time at a particular golf course as the “item” for auction, it will be understood that the term is intended in its broadest sense, and the invention is not limited in this respect. Thus, an “item” can refer to any number of tangible articles and intangible properties, or to a right of access or use to a particular facility (such as a travel seat, hotel room, restaurant seat, concert seat, etc.) Moreover, the term “mutually exclusive” in this regard is meant from the perspective that a would-be purchaser is perhaps only interested in owning one of the items (i.e., such as only one tee time on a particular day) even if he / she bids on more than one item at a time, and / or that it is not possible to own mor...

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