Ticketing exchange system for computing objective list and bid values of event tickets based on similar listings and sales as adjusted based on time criticality and other factors

Abstract

Ticketing exchange system and method of objectively determining values of a ticket to a venue, including: receiving identification of a ticket listing in connection with listing the ticket on the ticket exchange system; accessing a seating map of the venue; identifying completed sales and active listings of tickets having views similar to the ticket listing; computing a suggested list price as a summation of a first proportion and a second proportion, the first proportion including a first percentage of an average sale price of the completed sales, the second proportion including a second percentage of a weighted average of the active listings weighted by a desirability factor of each of the active listings, and adjusted by a time criticality relating to a start time; receiving a list value for the ticket listing as the suggested list price or a different value selected by a user; and submitting the ticket listing.

Description

TICKETING EXCHANGE SYSTEM FOR COMPUTING OBJECTIVE LIST AND BID VALUES OF EVENT TICKETS BASED ON SIMILAR LISTINGS AND SALES AS ADJUSTED BASED ON TIME CRITICALITY AND OTHER FACTORSBACKGROUNDField

[0001] The present application relates to a secondary marketplace ticketing systems for event tickets. More specifically, the present application is directed to a ticketing exchange system and method of computing objective list and bid values of event tickets based on similar active listings and similar completed sales, adjusted based time criticality and one or more other factors, such as desirability, competition, and reserve factors.Brief Discussion of Related Art

[0002] It is ubiquitous that the ability to attend various events, such as sports, concerts, movies, comedy, theater, opera, as well as other events, requires associated tickets to attend the events, frequently with tickets that are purchased. The event ticket marketplace in the United States is projected to reach sixty billion dollars by 2031.

[0003] The marketplace for event tickets is generally fragmented into primary ticket marketplaces and secondary ticket marketplaces. Today, most if not all marketplaces include online portals and / or mobile applications, and can thus be considered online ticket marketplaces A primary ticket marketplace for event tickets is where an event organizer generally sells tickets for a first time. Primary marketplaces can include Ticketmaster, AXS, and Stage Front, as well as other primary' ticket marketplaces. A secondary ticket marketplace is where individuals or third-party brokers resell tickets that were previously purchased. Secondary ticket marketplaces can include StubHub, Vivid Seats, SeatGeek, Gametime, as well as other secondary' ticket marketplaces. In the secondary marketplace, a user can search for an event by category, location, as well as other criteria, and can filter various ticket listings associated with tickets to the event by price and / or event seating.

[0004] Frequently, if not always the case, a seller might consider listing an event ticket for sale on a secondary marketplace priced in ad-hoc manner for a value closest to the face value of the ticket, thus expressing a great desire to extract as much value as possible, whileon balance reducing a probability that a potential buyer would consider the listing for a potential purchase, especially in those cases where a large inventory of tickets might be available for the event. In similar fashion, a buyer on the secondary market might seek to significantly undercut a listed price of the seller, in an effort to “steal” the event ticket in the attempt to pay a least amount for the ticket, while on balance lowering or reducing a probability that the seller would consider such a value for a potential sale, especially in those cases where the event is attractive to a number of other potential buyers that might outbid the buyer.

[0005] Venues of various dimensions, configurations, and seating exist. There are certain considerations relating to tickets for seating at events in such venues, such as price, location (eg., section, row, seat), viewing angle to stage or other center of interest (e.g, percentage of stage clearly visible from seat - no obstruction, partial obstruction, etc.), as well as other selection considerations. As a general rule of thumb, the price and location are highly correlated, e.g., the closer the seat is to the stage, the higher the price. An optimal viewing angle is also an important factor, ensuring a good view of a performance and thus being relevant to the price. The viewing angle is best when seated directly in front of the center stage or middle of the court or field, and can become increasingly obstructed, for example, to the sides or the back of the venue. Similar seating or seats, having similar location and viewing angle, can be valued similarly by sellers and buyers. While ticket prices might reflect such nuances in location and viewing angle, similarity of seating, pricing on the secondary' market is largely ad-hoc, driven by the perceived value of the tickets by both sellers and buyers.

[0006] In general, as the start dates and times of the events approach, and particularly, in the hours and minutes before the events and / or or immediately after the start of the events, the lower the demand and thus a considerably lower price of the associated tickets. However, pricing of such tickets associated with critical timeframes, both by sellers and buyers, is largely ad-hoc based on the perceived value of the tickets on the secondary¬ market. While on the one hand, sellers may exert the effort to continuously drop the price of their listings as the events approach, on the other hand, buyers may periodically search the ticketing exchange in the hopes of finding such drops. However, there is no current.9.system and methodology to organically facilitate interaction among buyers and sellers, wherein the interactions might result in timely transactions of the event tickets at a price that is considered not only reasonable but fair to the participants, thus mitigating a loss of tickets because of the failure in achieving such interaction.

[0007] It is therefore desirable to provide a robust ticketing exchange system and method capable of computing list and bid values of a ticket for an event based on objective criteria related to the values of other bids, ticket listings, and completed sales, the values capable of being adjusted based on a time criticality factor of the event as well as one or more other relevant factors, and permitting direct messaging based on the time critically, thus facilitating optimal list and bids values on ticket listings, and making it more likely to facilitate transactions among buyers and sellers thus mitigating loss of the ticket.SUMMARY

[0008] In accordance with an embodiment, there is disclosed a ticketing exchange system of objectively determining values associated with a ticket to an event at a venue, wherein the system includes a processing device and a memory storing instructions that, when executed by the processing device, performs the following operations: receiving identification of a ticket listing for the ticket to the event at the venue in connection with listing a ticket on the ticket exchange system, accessing a seating map of a venue associated with the event; identifying completed sales and active listings of tickets having views similar to the ticket listing; computing a suggested list price as a summation of a first proportion and a second proportion, the first proportion directed to a first percentage of an average sale price of the completed sales, the second proportion directed to a second percentage of a weighted average of the active listings weighted by a desirability factor of each of the active listings, and adjusted by a time criticality factor relating to a start time of the event; receiving a list value for the ticket listing as the suggested list price or a different value selected by a user; and submitting the ticket listing.

[0009] The operations of ticketing exchange system can further include: determining whether the ticket listing is in a criticality period relating to a start time of the event; settingthe time criticality factor to a first value when a current time is earlier than the criticality period, wherein the criticality period extends to the start time of the event; computing the time criticality factor when the current time is within the criticality period based on a delta of the current time and the start time of the event divided a constant related to the event, the criticality period, and / or one or more other factors; and setting the time criticality factor to a second value when the current time is later than the criticality period and the event has started.

[0010] In some cases, the criticality period is determined by computing if a current time is within a predetermined number of hours before the start time of the event. In other cases, the time criticality factor is set to c — 1.0 when the current time is earlier than the criticality period, and the time criticality factor is set to c = 0.4 when the current time is later than thecriticality period. Lastly, the time criticality7factor can be computed as c — when the cunent time is with the criticality period, A(trmehr) is a delta of the cunent time and the start time of the event, and the constant Cc— 2.5 It should be noted that the predetermined number of hours associated with the criticality period can be one of 2 hours, less than 2 hours, or greater than 2 hours.

[0011] In some cases, the suggested list price is computed as suggested list price “ rifist * c, whereinAlist— (0.75 * Avg(similarsales) + (0.25 * wAvg similarlistin&s)), wherein., x 1 ^.-,, number of bids on listing,, wAvq[Ksimilar,^t!r,n^ ) ~ -RIx; L ~i I(PL > i * - number of competitive bids on all li -stings^n)- w'herein Pi — (0.75 * list pricef) + (0.25 * highest bid on listing:), and wherein c = wherein the criticality period is 2 hours, ftimehf) is a delta of a current time and a start time of the event, and the constant Cc— 2.5.

[0012] In some cases, pt= list price of listing;when there is no competitive bid on the listingi, wherein the competitive bid is one that is at least a predetermined percentage of the list price. In some cases, the predetermined percentage is at least 90%.

[0013] The operations of the ticketing exchange system can further include: determining whether computation of a reserve price is enabled; and computing a suggested reserve pricewhen enabled, the suggested reserve price being the list value multiplied by a reserve factor. In some cases, the reserve factor is 0.33.

[0014] The operations of the ticketing exchange system can further include displaying the suggested list price and the suggested reserve price, wherein one or more of the suggested list price and the suggested reserve price are capable of being selected or changed to different inputted values, wherein when the suggested list price is changed to an inputted list value then the suggested reserve price is recomputed based on the inputted list value.

[0015] The operations of the ticketing exchange system can further include: receiving i dentification of a ticket listing for the ticket to the event at the venue in connect! on with bidding on the ticket listing of the ticket listed on the ticket exchange system; accessing the seating map of the venue associated with the event; identifying active bids on the ticket listing; identifying completed sales and active listings of tickets having views similar to the ticket listing; computing a suggested bid price as a summation of a first proportion, a second proportion, and a third proportion, the first proportion directed to a first percentage of an average bid price of the bids on the ticket listing, the second proportion directed to a second percentage of a list price on the ticket listing minus an average of list prices and highest bids on the active listings, the third proportion directed to an average of sale prices of the completed sales, and adjusted by a time criticality factor relating to the start time of the event and a bid factor relating to a number of similar listings; receiving a bid value for the ticket listing as the suggested bid price or a different value selected by a user; and submitting the bid value on the ticket listing.

[0016] In some cases, the suggested bid price can be computed as suggested bid price =* c * b, whereindfoirf = (0.6 * Avg{bids on current listing)^ + (0.2 * (listprice — Avg (similar list price — similar highest, bid )'} + (0.2 * Avg(similarsaies)), wherein Avg(similar list price — similar highest bid ) — ~'Zi=1(list price,- — highest bidt), wherein c —wjierejncriticality period is 2 hours, (timehr) is a delta of a currenttime and a start time of the event, and the constant Cc= 2.5, and wherein, >, number of similar listings

[0017] In some cases, when a component of Abidhas no associated entries, wherein components include bids on current listing, similar active listings, and similar sales, a percentage attributed to the component is redistributed among remaining components that have associated entries For example, when there are no bids on current listing, then Abid= (0,5 * (list price — Avg (similar list price — similar highest bid')) +■ (0.5 * Avg(similarsales),- when there are no similar active listings, then Abid— (0.7 * Avg(bids on current listing)) + (0.3 * Avg(similarsales)),' when there are no similar sales, thenAbid— (0.7 * Avg(bids on current listing)) + (0.3 * (Zist price — Avg (similar list price — similar highest bid))-, and when two of the three components have no associated entries, then a remaining component makes up 100% of Ahid.

[0018] The operations of the ticketing exchange system can further include: determining whether the ticket listing is in a criticality period relating to the start time of the event; and displ ying an option to start a chat session concerning the ticket listing.

[0019] The operations of the ticketing exchange system can further include: recomputing a list value and a bid value on the ticket listing; computing a suggested sale value of the ticket listing as an average of the list value and the bid value as recomputed; starting the chat session that includes presentation of the suggested sale value; presenting one or more context-based messages until a sale value is negotiated; and processing a transaction associated with the sale value of the ticket listing.

[0020] The operations of the ticketing exchange system can further include: determining whether the ticket listing is in a criticality period relating to the start time of the event; and notifying a seller of the ticket listing, one or more buyers with active bids on the ticket listing, and one or more watchers associated with the ticket listing that a chat session is available, wherein a watcher is a user who does not have an active bid on the ticket listing but has expressed interest in the ticket listing or the event associated with the ticket listing.

[0021] In accordance with another embodiment, there is disclosed a ticketing exchange method of objectively determining values associated with a ticket to an event at a venue, wherein the method includes: receiving identification of a ticket listing for the ticket tothe event at the venue in connection with listing a ticket on the ticket exchange system; accessing a seating map of a venue associated with the event; identifying completed sales and active listings of tickets having views similar to the ticket listing; computing a suggested list price as a summation of a first proportion and a second proportion, the first proportion directed to a first percentage of an average sale price of the completed sales, the second proponion directed to a second percentage of a weighted average of the active listings weighted by a desirability factor of each of the active listings, and adjusted by a time criticality factor relating to a start time of the event; receiving a list value for the ticket listing as the suggested list price or a different value selected by a user; and submitting the ticket listing.

[0022] The ticketing exchange method can further include: determining whether the ticket listing is in a criticality period relating to a start time of the event; setting the time criticality factor to a first value when a current time is earlier than the criticality period, wherein the criticality period extends to the start time of the event; computing the time criticality factor when the current time is within the criticality period based on a delta of the current time and the start time of the event divided by a constant related to the event, the criticality period, and / or one or more other factors; and setting the time criticality factor to a second value when the current time is later than the criticality period and the event has started.

[0023] In some cases, the criticality period is determined by computing if a current time is within a predetermined number of hours before the start time of the event. In other cases, the time criticality factor is set to c — 1.0 when the current time is earlier than the criticality period, and the time criticality factor is set to c = 0.4 when the current time is later than the criticality period. Lastly, the time criticality factor can be computed as c=when thecurrent time is with the criticality period, A( timehr) is a delta of the current time and the start time of the event, and the constant Cc= 2.5. As already described herein, the predetermined number of hours associated with the criticality period can be one of 2 hours, less than 2 hours, or greater than 2 hours.

[0024] In some cases, the suggested list price is computed as suggested list price = Alist* c, whereinAlist— (0.75 * Avg(similarsales) + (0.25 * wAvg(similartistinssy), whereini, number of bids on listing, wAva{similarii tir,n= -X -rtp,- * ). wh;erein ■ listings number of competitve bids on all listingsi nPi = (0.75 * list priced + (0.25 * highest bld on listing^). and wherein c — — — — wherein the criticality period is 2 hours, timehr) is a delta of a current cctime and a start time of the event, and the constant Cc— 2.5.

[0025] In some cases, pi = list price of listingtwhen there is no competitive bid on the listlng, wherein the competitive bid is one that is at least a predetermined percentage of the list price. In some cases, the predetermined percentage i s at least 90%.

[0026] The ticketing exchange method can further include: determining whether computation of a reserve price is enabled; and computing a suggested reserve price when enabled, the suggested reserve price being the list value multiplied by a reserve factor. In some cases, the reserve factor is 033.

[0027] The ticketing exchange method can further include displaying the suggested list price and the suggested reserve price, wherein one or more of the suggested list price and the suggested reserve price are capable of being selected or changed to different inputted values, wherein when the suggested list price is changed to an inputted list value then the suggested reserve price is recomputed based on the inputted list value.

[0028] The ticketing exchange method can further include: receiving identification of a ticket listing for the ticket to the event at the venue in connection with bidding on the ticket listing of the ticket listed on the ticket exchange system; accessing the seating map of the venue associated with the event; identifying active bids on the ticket listing; identifying completed sales and active similar listings of tickets having views similar to the ticket listing; computing a suggested bid price as a summation of a first proportion, a second proportion, and a third proportion, the first proportion directed to a first percentage of an average bid price of the bids on the ticket listing, the second proportion directed to a second percentage of a list price on the ticket listing minus an average of list prices and highest bids on active similar listings, the third proportion directed to an average of sale prices of completed sales, and adjusted by a time criticality factor relating to the start time of the event and a bid factor relating to a number ofsimilar listings; receiving a bid value for the ticket listing as the suggested bid price or a different value selected by a user, and submitting the bid value on the ticket listing,

[0029] In some cases, the suggested bid price can be computed as suggested bid price = Abi(i* c * b, whereinAbid ~ (0.6 * Avg(bids on current listing)' ) + (0,2 * (list price — Av g (similar list price — similar highest bid )) + (0.2 * Avg(similarsales)), wherein Av g (similar list price — similar highest bid ) = -^=r(list pricet— highest bifa), wherein c ~wherein the criticality period is 2 hours, &(timedr) is a delta of a current time and a start time of the event, and the constant Cc— 2.5, and wherein, >. number of similar listings

[0030] In some cases, when a component of Abidhas no associated entries, wherein components include bids on current listing, similar active listings, and similar sales, a percentage attributed to the component is redistributed among remaining components that have associated entries. For example, when there are no bids on current listing, then Abid= (0.5 * (list price — Aug (similar list pr ice — similar highest bid)) + (0.5 *Av (similarsaies), when there are no similar active listings, then Abid— (0.7 * Avg(bids on current listing)) + (0.3 * Avg (simila.rsaies)), when there are no similarsales, then Abid= (0.7 * Avg(blds on current listing)) + (0,3 * (list price — Avg (similar list price — similar highest bid))' -, and when two of the three components have no associated entries, then a remaining component makes up 100% of Abid.

[0031] The ticketing exchange method can further include: determining whether the ticket listing is in a criticality period relating to the start time of the event; and displaying an option to start a chat session concerning the ticket listing,

[0032] I'he ticketing exchange method can farther include: recomputing a list value and a bid value on the ticket listing; computing a suggested sale value of the ticket listing as an average of the list value and the bid value as recomputed; starting the chat session that includes presentation of the suggested sale value; presenting one or more context-based messages untila sale value is negotiated: and processing a transaction associated with the sale value of the ticket listing,

[0033] The ticketing exchange method can further include: determining whether the ticket listing is in a criticality period relating to the start time of the event; and notifying a seller of the ticket listing, one or more buyers with active bids on the ticket listing, and one or more watchers associated with the ticket listing that a chat session is available, wherein a watcher is a user who does not have an active bid on the ticket listing but has expressed interest in the ticket listing or the event associated with the ticket listing

[0034] These and other purposes, goals, and advantages of the present application will become apparent from the following detailed description of example embodiments read in connection with the accompanying drawings,BRIEF DESCRIPTION OF THE DRAWINGS

[0035] Some embodiments are illustrated by way of example and not limitation in the figures of the accompanying drawings in which:

[0036] FIG. 1 illustrates a block diagram of an example ticketing exchange system;

[0037] FIG. 2 illustrates an example ticket for an event as listed by the ticketing exchange system of FIG. 1;

[0038] FIG. 3 illustrates an example venue (seating map) associated with the event for which the example ticket of FIG. 2 has been listed as a ticket listing by the ticketing exchange system of FIG. 1;

[0039] FIG. 4A illustrates an example table of similar active listings to the example ticket listing illustrated in FIG. 3;

[0040] FIG. 4U illustrates an example table of similar completed sales to the example ticket listing illustrated in FIG. 3;

[0041] FIG. 5 illustrates a flowchart of an example method associated with listing a ticket for sale by the ticketing exchange system of FIG, 1;

[0042] FIG. 6 illustrates a flowchart of an example method of generating a suggested list price for a ticket listing listed by the ticketing exchange system of FIG. 1 in accordance with the example method of FIG. 5;

[0043] FIG. 7 illustrates a flowchart of an example method of bidding for a ticket listing listed by the ticketing exchange system of FIG. 1;

[0044] FIG. 8 illustrates a flowchart of an example method of generating a suggested bid for bidding a ticket listing in accordance with the example method of FIG. 7;

[0045] FIG. 9 illustrates a flowchart of an example method of generating chat notifications to sellers, bidders, and watchers in the ticketing exchange system of FIG. 1;

[0046] FIG. 10 illustrates a flowchart of an example method of determining a suggested sale price in a chat for a ticket listing of FIG. 3 in the ticketing exchange system 100 of FIG. 1;

[0047] FIG. 11 illustrates list prices of FIG. 4A superimposed over seats of the venue of FIG. 3;

[0048] FIG. 12A illustrates a graphical user interface (GUI) associated with generating an example ticket listing in FIG. 3 for an example ticket in FIG. 2 in the ticketing exchange system of FIG. 1;

[0049] FIG. 12B illustrates a graphical user interface (GUI) associated with generating an example bid for an example ticket listing in FIG. 3 of the ticketing exchange system in FIG. 1;

[0050] FIGS. 12C and 12D illustrate an example table of similar active listings and an example table of similar completed sales, respectively, as selected from the GUIS of FIGS. 12A and 12B,

[0051] FIGS. 13A-13E illustrate a seller-buyer chat sequence relating to an example ticket li sting of FIG. 3 in the ticketing exchange system of FIG. 1,

[0052] FIG. 14 illustrates a block diagram of an example general computer system capable of performing any methods or computer-based functions in accordance with FIGS.1-13E.DETAILED DESCRIPTION

[0053] Described herein are a ticketing exchange system and a ticketing exchange method directed to computing objective list and bid values of event tickets based on similar active listings and similar completed sales, adjusted based on one or more factors, such as time criticality, desirability, competition, and reserve factors. In the following description, for the purposes of explanation, numerous specific details are set forth in order to provide a thorough understanding of example embodiments or aspects. It will be evident, however, to one skilled in the art, that an example embodiment may be practiced without all of the disclosed specific details.

[0054] FIG. 1 illustrates a block diagram of an example ticketing exchange system 100 As will be described herein, the system 100 is configured to compute objective list and bid values for ticket listings of events based on similar active listings and similar completed sales, adjusted based on a time criticality factor, as well as based on one or more other factors, such as desirability, competition, and reserve factors, as well as enabling chat functionality based on certain timeframes to starting times of the events to spur negotiation on listings, thus making it more likely to facilitate transactions among buyers and sellers and mitigating loss of the underlying tickets that would occur if the tickets could not be sold. Moreover, the system 100 is also configured to process the transactions, such that ownership of the tickets can be transferred from the sellers to the buyers, and funds associated with the tickets can be transferred from the buyers to the sellers.

[0055] The example system 100 includes an application server / content provider 102, ticketing database 104, venue seating (seating map) 106, event organizer 108, one or more sellers 110, one or more bidders 112a-112c related to each seller 110, as well as one ormore watchers 114, connectable over a network 116. The foregoing system components 102-114 can be computing devices (e.g,, computers, servers, mobile device) capable of connecting to and communicating over the network 116. The computing devices can be connected via a wireless and / or wired configurations via one or more of the Internet, WiFi, WAN, LAN, etc., using conventional or yet to be developed communication standards.

[0056] The application server / content provider 102 is configured to connect via network 116, sellers 110, bidders 112a-112c, and watchers 114 to provide relevant graphical user interface (GUIs) facilitating ticket transactions for one or more events, including computation of optimal list and bid values for ticket listings based on a range of criteria including similar active listings, similar completed sales, timeframe functionality related to the start of the events, as well as chat functionality based on certain timeframes to the starting times of the events and other adjustment factors to facilitate negotiations, thus resulting in optimal list and bid values on the listings and ultimate tickets transactions mitigating losses of the underlying tickets.

[0057] The ticketing database 104 is configured to maintain one or more ticket listings, as well as completed sales of the ticket listings. For example, a ticket listing (e.g., a ticket listing record) can include user identification (e.g., name), location information related to a ticket (e.g., section, row, seat), a list price of the ticket, as well zero or more bids on the ticket, as particularly illustrated in FIG. 4A. As another example, a completed sales of the ticket listings can include user identification (e.g., name), location information related to the ticket (e.g., section, row, seat), and a sale price of the ticket, as particularly illustrated in FIG. 4B.

[0058] The venue seating 106 can include a database of one or more seating maps for one or more venues, and is configured to provide a seating map of a particular venue upon request from the application server / content provider 102.

[0059] The event organizer 108 is configured to organize an event for which tickets are initially sold on the primary marketplace, and resold on the secondary marketplace, such as via the ticketing exchange system 100. The event organizer 108, upon request of the application server / content provider 102, can authenticate a ticket (e.g., E-Ticket) originally issued for an event, such as by using certain information associated with the ticket (e.g., barcode of theticket) illustrated in the ticket 200 of FIG. 2. For example, when a seller 110 uploads a ticket in connection with a new ticket listing, the ticket’s barcode and / or other details (e.g., user identification (e.g., name) and location information (e.g., ticket section, row, seat) can be transmitted to the event organizer 108 for authenticity processing of the uploaded ticket

[0060] Upon receipt of the transmitted information (e.g., now considered received information) from the application server / cont ent provider 102, the event organizer 108 can conduct authenticity processing using the received information, as well as using additional information that might be related to or derived from the received information (e.g., telephone, email, or other information associated with or derived from the received information), wherein the event organizer 108 might already have or be able to access the additional information from an information source (not shown) or an information aggregator (not shown). Upon completion of authenticity processing, the event organizer 108 can provide an appropriate confirmation or denial of the ticket’s authenticity to the application server / content provider 102.

[0061] The one or more sellers 110 are configured to list their tickets for resale using the application server / content provider 102. In particular, a seller 110 can create an account (not shown) including a usemame / password, a communication method (e.g., email, phone number, and / or another communication method), and a payment receipt method (e.g., where payment will be delivered upon completion of a transaction). The foregoing account information can be stored in the ticketing database 104, along with each seller’s active and completed listings. Once the account is created, the seller 110 can upload its ticket for a ticket listing (e.g., as well as other tickets for one or more other ticket listings) and can select a listing price, using a suggested listing price that is computed by the application server / content provider 102, as described in greater detail with reference to methods 500, 600 illustrated in FIGS 5 and 6, or inputting a different list price. The application server / content provider 102 can compute a suggested list price based on similar active listings and similar completed sales, with certain adjustments to the suggested list price based on at least one devaluation factor using the following equation.Suggested List Price = Alist* c Eq. 1wherein Alist~ (0.75 * Avg(similarsaies) + (0.25 * wAvg(similarlistings))).,,.. z. x 1 v-,,1, number of bids on listing i, wherein wAvg(similarlistings) =1 / nΣi=1n(pi* number of bids on listingi / number of competitive bids on all listingsi...n). andwherein p; = (0.75 * list, priced + (0.25 *highest bid on listing^), otherwise the list price;.* If highest bid on the listing is a competitive bid, otherwise use the list price

[0062] in the foregoing equation, Alistis a computed list price, which is a proportion composed of two (2) components, including a first of Avg(similarsales) and a second of wAvg(similarlistings). The first component representing 75% of the computed list price Alistis an average of similar sales, while the second component representing 25% of the computed list price Alistis a weighted average of similar listings based in part on a “desirability” factor Pi (e.g., representation of desirability of a listing relative to other similar active listings) indicated by a proportion of a list price (75%) and a highest bid (25%) on a listing, if the highest bid is a competitive bid, and adjusted by a fraction of total number of bids on that listing over a number of competitive bids on all similar listings. A list price is a price at which a seller indicated a desire to sell a ticket for an event, also known as a “buy now price.” A competitive bid is a bid that is relatively close to list price (e.g., at least 90% of the list price).

[0063] In the foregoing equation, c is a devaluation factor computed as c = Δ(timehr) / Ccwhen the ticket listing is in criticality period before event start, time (eg., within 2 hours before start of the event), or set to c = 0.4 if listing is after the event start time, or set to c = 1.0 before criticality period. An appropriate or desired devaluation factor (c) after the start of the event can be chosen based on the event, delta in time since the start time of the event (e.g., can include factors c-0.4 if delta is < 30 mins, or c=0.2 if delta is > 30 mins., or graduated factors and / or deltas), or one or more other factors. It should be noted that the criticality period can be selected to be two hours, less than two hours, or greater than 2 hours. The devaluation constant Cc= 2.5, which could be set to a desired value based on the chosen criticality period, event, or one or more other factors.

[0064] The foregoing suggested listing price computation is thus a weighted average of similar sales and similar listings, weighted for factors like desirability (e.g., competition factor) and criticality time factor (e.g., devaluation time factor).

[0065] Moreover, the seller 1 10 can enable and then select a reserve price for the ticket. In this regard, the application server / content provider 102 can compute a suggested reserve price, as described in greater detail with reference to methods 500, 600 illustrated in FIGS. 5 and 6, respectively. The suggested reserve price = L * r, wherein, L = list price if user inputted a list price, or computed suggested list price if not, and wherein, r = 0.33, is a reserve fraction (1 / 3 ) of the list price or a computed suggested list price.

[0066] In the foregoing equation, L is a list price and r is a reserve factor. The suggested reserve price represents a lowest amount that a seller 110 would consider accepting for the seller’s ticket listing, wherein the suggested reserve price is also known as a "'minimum bid priced' The reserve factor r can be selected to be any fraction of the list price or suggested list price L

[0067] It should be noted that if a user edits an existing li sting, the suggested reserve price computation will use a previously inputted or computed L as an existing suggested list price until the user inputs an updated list price, causing a re-computation of a suggested reserve price that the user can then keep or modify.

[0068] The one or more bidders 112a- 112c (e.g., bidders 1, 2,..., N) relate to one or more users that have placed bids on a certain ticket listing of a seller 110. The bids related to a ticket listing are illustrated in FIG. 4A. Each of the bids can be related to a record (not shown) in the ticketing database that identifies a user making the relevant bid. Similarly to the seller 1 10, each of the bidders 112a-112c can create an account (not shown) including a usemame / password, a communication method (e.g., email, phone number, and / or another communication method), and a payment method (e.g., how payment will be delivered upon completion of a transaction). The foregoing account information can be stored in the ticketing database 104, along with each of the bidder’s active bids and completed bids. Once the account is created, the bidder will be able to add bids on one or more ticket listings as listed on the ticketing exchange system 100.

[0069] A bidder 112a- 112c can select a bid price on a ticket listing based on a suggested bid computed by the application server / content provider 102, as described in greater detail with reference to methods 700, 800 illustrated in FIGS. 7 and 8. The application server / content provider 102 can compute a suggested bid based on bids on the ticket listing, similar activelistings, and similar completed sales, with certain adjustments to the suggested bid based on a devaluation factor and a bid factor of competition using the following equation.Suggested Bid = Abid* c * b Eq. 2 wherein Abid— (0.6 * Avg(bids on current listing)^) + (0.2 * (list price — Avg(similar list price — similar highest bid )) + (0.2 * Avg(similarsalesy), and wherein Avg(similar list price − similar highest bid) = ”X / =i(h'st pricet— highest hid:)

[0070] In the foregoing equation, Abidis a computed bid, while c and b are several devaluation factors, as described in greater detail hereinbelow. Moreover, Abidis a proportion of three (3) components. The second component is a list price — Avg(similar list price - similar highest bid), which represents a current list price on a ticket listing adjusted based on average of similar listings accounting for each similar listing based on a difference in its listing price and a highest bid (i.e, average discount (negative) or premium (positive) amount willing to be paid on similar listings).

[0071] It should be noted that if there are no bids, similar listings, and / or sales, the weighted average is then distributed evenly based on the following criteria:i. No other bids: 0.5 * Avg(list price − Avg(...)) + 0.5 * Avg(similarsales)ii. No similar listings: 0.7 * Avg(bids on current listing) + 0.3 * Avg(similarsales); iii. No similar sales: 0.7 * Avg(bids on current listing) + 0.3 * Avg(list price − Avg(...)); and iv. If any 2 of 3 averages are empty (zero), then 1.0 * Avg(...) (i.e., 3rdnon-zero average).

[0072] In the foregoing equation, the devaluation time factor c is computed as c = Δ(timehr) / Ccwhen the listing is in criticality period before event start time (e.g., within 2 hoursbefore start of the event), or set to c = 0.4 if listing is after the event start time, or set to c = 1.0 before criticality period. The devaluation constant Cc= 2.5, which could be set to a desired value based on the chosen criticality period, event, or one or more other factors.

[0073] In the foregoing equation, the competition bid factor b is computed as b = 1 + number of similar listings / 100 (i.e., a number of similar listings is n in the summation listedabove).

[0074] The foregoing suggested bid price is thus a weighted average of other bids on the ticket listing, similar active listings, and similar sales, weighted for factors like time criticality and bids of possible competition.

[0075] The one or more watchers 114 are potential buyers that have not made a bid but express an interest in a certain ticket listing or event, and can thus view the ticket listing and receive updates from the application server / content provider 102 concerning the ticket listing, such as when chat functionality might be enabled, as described hereinbelow, when specific ticket listings lower the associated list price, or new ticket listings for the event are added.

[0076] FIG. 2 illustrates an example ticket 200 for an event as listed by the ticketing exchange system 100 of FIG. 1. The ticket 200 can be an electronically issued ticket or a physical issued ticket. The ticket 200 generally includes information identifying the event (e.g., event name, venue, date, and time), seat location (e.g., section, row, seat), a ticket price, and a barcode associated with the particular ticket.

[0077] The ticket 200 can be uploaded to the application server / content provider 102, such as via uploading a picture, a scan, other representation of the ticket for physical tickets or uploading an email or other electronic communication representing an E-Ticket. The application server / content provider 102 can identify the relevant information of the ticket, supplemented and / or corrected as might be necessary by the user, and can then generate a ticket listing in the ticketing database 104 for the uploaded ticket.

[0078] FIG.3 illustrates an example venue (seating map) 300 associated with the event for which the example ticket 200 of FIG. 2 has been listed as a ticket listing 310 (e.g., ticket location II-B-5) by the ticketing exchange system 100 of FIG. 1. Similarly, one or more other ticket listings, such as a ticket listing 312 (e.g., ticket location V-B-4), can be listed by the ticketing exchange system of FIG. 1. The venue 300 can include sections 302, rows 304, and seats 306 about in relation to stage 308. In particular, the venue can be of differentdimensions, configurations, and seating relevant to the stage 308 The example venue 300 is of generally oval shape and includes one or more sections 302, one or more rows 304 in each of the sections 302, and one or more seats in each of the rows 304, about the stage 308.

[0079] It should be understood that venues of various dimensions, configurations, and seating exist. For example, the venue can be circular, oval, u-shaped, bowl-shaped, square, rectangular, elliptical, etc. Circle 310 (e.g., ticket location D-B-5) can indicate a ticket listing for a certain ticket (e.g., ticket 200) added by the application server / content provider 102 in the ticketing database 104. Square 312 (e.g., ticket location V-B-4) can indicate an existing, previously added ticket listing for which a certain bid is added by the application server / content provider 102 in the ticketing database 104.

[0080] As illustrated in example venue 300, similar active listings and similar completed sales can include seats with similar views related to a view of the ticket listing 310 (section II, row B, seat 5) and ticket listing 312 (section V, row B, seat 4). For example, the similar active listings and similar completed sales of FIGS. 4A and 4B can include seats in a nearest number of rows to the current seat (e.g., 3-5 rows including current row plus two rows above and two rows below - if applicable to the venue) in a current section, seats of the same row's one section to the left and one section to the right of the current section (if applicable to the venue), and seats of mirroring sections and rows on opposite side of venue (if applicable to the venue), e.g., 1-3 sections of 3-5 rows with seats of similar view on opposite side of venue. Different criteria could be chosen for consideration of similar active listings and similar completed sales based on the dimensions, configurations, and seating of the venue 300. For example, a different number of rows could be considered and / or a different number of sections can be considered, etcetera.

[0081] Accordingly, for the ticket listings 310 and 312, similar active listings and similar completed sales can include seats 306 in sections I-III, rows A-C on one side of the venue 300, and seats 306 in mirroring sections IV- VI, and rows A-C. As an example, FIG. 4A provides a table 400A of similar active listing to ticket listing 310 and FIG. 4B provides atable 400B of similar completed sales. Moreover, ticket listings 310 and 312 can receive one or more associated bids as will be described hereinbelow with reference to FIG. 4 A.

[0082] FIG. 4A illustrates an example table 400A of similar active listings to example ticket listings 310 and 312 as illustrated in FIG. 3. The data illustrated the table 400A, i.e., individual active ticket listings, can be maintained and updated as one or more bids 402 are made, as well as taken off when a certain bid for a ticket listing is accepted, thus completing a sale of the underlying ticket, as particularly illustrated in the example table 400 of FIG.4B.

[0083] For example, a ticket listing for Smith associated with a ticket located at I-A-l has a list price of $55, and several bids of $25, $40, $45, and $50. This ticket is an active listing that is deemed similar, based on the aforementioned criteria, to the ticket listings 310 (located at II-B-5) and 312 (located at V-B-4) that might be under consideration. For example, the ticket located at I-A-l is similar to ticket listings 310 because it is in a section I, which is one section to the left of section II, and the seat is in row A, which is one row lower than row B. As another example, the ticket located at I-A-1 is similar to ticket listings 312 because section I is a mirror of section IV, which is one section to the left of section V, on the opposite side of venue 300, and the seat in row A is one row lower than row B

[0084] FIG. 4B illustrates an example table 400B of similar completed sales to the example ticket listing 310 as illustrated in FIG. 3. The data of the table 400B can be maintained and updated as sales from table 400A are completed for the event. For example, a completed sale for Yoon is associated with a ticket located at I-C-7 sold for a sale price of $45.

[0085] FIG. 5 illustrates a flowchart of an example method 500 associated with listing a ticket for sale, i.e., a ticket listing, by the ticketing exchange system 100 of FIG. 1. The method 500 starts at operation 502 when a user logs into the application server / content provider 102 to list a ticket for sale.

[0086] At operation 504 there is received an upload of a ticket for an event that a user (e.g., seller) would like to list for sale. A ticket can be electronically issued or physically issued. What is important is that the ticket is uploaded to the application server / content provider 102

[0087] At operation 506, a venue, a date / time, a face price, a purchaser, and seating information (e.g., sec., row, and seat) are identified from the ticket and / or user enters and / or supplements the information of the ticket.

[0088] At operations 508, a determination is made as to whether a confirmation is received from the user confirming the accuracy of the information of the ticket. If it is determined that the user does not confirm the accuracy at operation 508, the method 500 continues at operation 510 where the user can then update and / or correct the received information. However, if it is determined that the user does confirm the accuracy at operation 508, the method 500 continues at operation 512.

[0089] At operation 512, a determination is made as to whether the ticket is an electronically issued ticket (e.g., E-Ticket). If it is determined at operation 512 that it is an E-Ticket, the method 500 continues with at an optional operation 514 where the authenticity' of the E-Ticket is confirmed with the event organizer 108, which is illustrated in Fig. 1. While it is not illustrated in FIG. 5, if the E-Ticket is not confirmed, the method 500 could be explicitly terminated by proceeding to operation 530, where the method 500 ends. However, if it is determined at operation 512 that it is not an E-Ticket, the method 500 continues at operation 516. In some cases, both physically and electronically issued tickets could be considered authentic for purposes of the current method. If the ticket turns out not to be authentic (e.g., fake), the amount paid by the buyer for the ticket could be refunded to the buyer’ s stored payment method, while the amount paid to the seller’ s stored payment receipt method could be canceled, charged back, or otherwise requested to be paid back.

[0090] At operation 516, a seating map of the venue is obtained from venue seating 106 illustrated in FIG. 1.

[0091] At operation 518, a suggested list price based on similar active listings and similar completed sales is determined, with adjustments to the suggested list price based on at least one devaluation factor, as particularly disclosed in an example computation at operation 624 in FIG 6. In particular, the suggested list price can be determined via an example method 600 as illustrated in FIG. 6.

[0092] At operation 520, a determination is made as to whether an optional reserve price is enabled by the user, such as by checking a checkbox. If it is determined that an optional reserve price is enabled, the method 500 continues at operation 522, where a suggested reserve price is determined. The suggested reserve price can be determined based on the following formulation.

[0093] As described herein, the suggested reserve price = L * r (i.e., list price * reserve factor 0.33) Accordingly, the reserve price is first displayed based on a computed suggested list price of $57.91, e.g., as described hereinbelow with reference to FIG. 6 (reserve price of $57.91 * 0.33 = $19.11). However, if the user then selects the user’s own list price of $65, e.g., as described with reference to FIG. 4A, the displayed reserve price is then updated based on the user’s selected list price (e.g., reserve price is $65 * 0.33 = $ 1.45)

[0094] However, if it is determined that an optional reserve price is not enabled at operation 520, the method 500 then continues at operation 524, where the determined list price and optional reserve price (if enabled) are displayed in connection with the seating map of the venue. Graphical user interface (GUI) 1200 in FIG. 12 illustrates an interface for a ticket listing. In particular, GUI 1200 displays a list price (either a suggested list price or selected list price) and suggested reserve price (if enabled). The list price and / or the reserve price can be adopted or modified by the user (i.e., seller) before submitting the ticket listing via the GUI 1200.

[0095] At operation 526, particular selections of the list price and the optional reserve price (if enabled) can be received from the user, when the user has decided not to adopt the suggested list price and / or the suggested reserve price as displayed to the user. As illustrated in the GUI 1200, the user can keep the suggested list price and / or suggested reserve price, or can modify either of these values by overwriting a respective new value.

[0096] At operation 528, the user submits the ticket listing As illustrated in the GUI 1200, the user can click a button to submit the ticket listing. Once submitted, the ticket listing can be illustrated to the user on the seating map 1100 of the venue, as illustrated in FIG 11. At operation 530, the method 500 for listing a ticket for sale ends.

[0097] FIG. 6 illustrates a flowchart of an example method 600 of generating a suggested list price for a ticket listing listed by the ticketing exchange system 100 of FIG. 1 in accordance with the method 500 of FIG. 5. The method 600 starts at operation 602 and is called from operation 518 of method 500 of FIG. 5, when a user successfully uploaded a ticket for sale to the application server / content provider 102.

[0098] At operation 604, identification of a new ticket being listed for sale (i.e., ticket listing) is received by the application server / content provider 102 in FIG. 1.

[0099] At operation 606, a seating map of the venue is obtained, for example, from the ticketing database 104 or venue seating database 106 illustrated in FIG. 1. At operation 608, completed sales of tickets are identified for seats having similar views to that of the ticket listing. At operation 610, an average sale price of the identified completed sales is computed. At operation 612, there are identified active listings of tickets for seats having similar views to that of the ticket listing. At operation 614, a weighted average of the active listing price of the identified active listings is computed.

[0100] Thereafter, at operation 616 a determination is made as to whether a criticality time period has been reached before the event (e.g., 2 hours before the starting time of the event). A criticality period defines when the value of the ticket can start to devalue because it is getting critically close to the start time of the event. While different criticality time periods can be selected for different events, a general criticality time period is two (2) hours before the starting time of the event.

[0101] If at operation 616 it is determined that the time is before the criticality period (e.g., greater than two hours before the event), then at operation 618 the devaluation factor is set to a first value (e.g., c — 1.0). In particular, the first value of the devaluation factorindicates that there is no devaluation of ticket price to be computed, on the account of time criticality.

[0102] If at operation 616 it is determined that the time is during the criticality period (e.g., within 2 hours before the event), then at operation 620 the devaluation factor is computed based on span of time relative to the starting time of the event. This computed value of the devaluation factor indicates that the ticket price to be computed progressively devalues during the criticality period as the time advances closer to the starting time of the event.

[0103] However, if at operation 616 it is determined that the time is after the criticality period (e.g., after the event has already started), then at operation 622 the devaluation factor is set to a second value (e.g., c = 0.4). In particular, the second value of the devaluation factor indicates that there is a significant devaluation (e.g., 60% devaluation) of the ticket price to be computed, once the event has already started.

[0104] At operation 624, a list price is computed as a summation that includes a first proportion of the average sale price and a second proportion of the weighted average active listing price, with the summation adjusted based on the computed / set devaluation factor c.

[0105] For example, the ticket listing 310 (e.g., II-B-5 illustrated in FIGS. 3 and 4A) is used to illustrate the calculation of the suggested list price as described in view of FIG 1 based on relevant information as illustrated in tables 400A and 400B of FIGS. 4A and 4B. The computation of the suggest list price for the ticket listing 310 is based on similar completed sales, weighted average of similar listings, with an adjustment based on a time criticality.

[0106] As described herein, the suggested list price = Alist* c is computed as follows:Alist= (0.75 * Avg(similarsales)) + (0.25 * wAvg(similarlistings)), wherein wAvg(similarlistings) = (1 / n) * Σ(pi* number of bids on listingi / number of competitive bids on all listingsi...n), and wherein= (0.75 * list pricei) + (0.25 * highest bid on listingi), otherwise the list pricei* if highest bid on the listing is a competitive bid, otherwise the list pricei

[0107] Accordingly, Alistof the suggested list price for ticket listing 310 is computed is computed as follows: Alist= 0.75 * (55+59+67+60+50) / 5 + 0.25 * ((0.75(55) + 0.25(50)) + (0.75(67) + 0.25(66)) + (0.75(45) + 0.25(43)) + (0.75(75) + 0.25(73)) + (80)) / 5 = $61.14.

[0108] The criticality time factor c for this example is assumed to be 1.0 (e.g., greater than two (2) hours before start time of the event). The Suggested List. Price = Alist* c = $61.14 * 1.0 = $61.14. Accordingly, the suggested list price of $61,14 has been computed based on certain information of the similar active listings and similar completed sales as illustrated in FIGS. 4A and 4B, and adjusted based on the devaluation factor c — 1.0. The seller 110 can select the suggested list price or the seller’s own different list price, as described with reference to operation 526 below. For example, the seller 110 selected to override the suggest list price with a set list price of $65, as reflected the similar active listings table 400A in FIG. 4A.

[0109] At operation 626, the computed list price is returned as a suggested listing price for the ticket listing to operation 518 of method 500 illustrated in FIG. 5. Thereafter, the method ends at operation 628.

[0110] FIG. 7 illustrates a flowchart of an example method 700 of bidding for a ticket listing listed by the ticketing exchange system 100 of FIG. 1. The method 700 starts at operation 702, when a user logs into the application server / content provider 102 to bid / buy a ticket for an event listed for sale.

[0111] At operation 704, a selection of an event (date, time, venue) for which a user would like to buy a ticket is received. For example, the user can query the application server / content provider 102 for tickets available to an event, such as by event name, or date, time, and / or venue. Various queries are possible to find tickets that are available for a desired event.

[0112] At operation 706, a seating map of the venue is obtained. At operation 708, available listings of tickets for the event are retrieved and displayed in connection with theseating map of the venue. At operation 710, a selection is received from the user of a certain ticket listing from available ticket listings.

[0113] At operation 712, a suggested bid price is computed for the selected ticket listing based on bids on the selected ticket listing, bids and completed sales on similar ticket listings, with adjustments to the bid price based on several computed devaluation factors, as particularly disclosed in the computation at operation 828 in FIG. 8. In particular, the suggested bid price can be determined via an example method 800 as illustrated in FIG. 8.

[0114] At operation 714 a determination is made as to whether a criticality time period has been reached before the event (e.g., 2 hours before the starting time of the event). As aforementioned, the criticality period defines when the value of the ticket can start to devalue because it is getting critically close to the start time of the event.

[0115] If it is determined at operation 714 that the time is during the criticality period (e g., within 2 hours before the event or after the event start time), then at operation 716 an option is displayed to u ser to start a chat session with a seller of the selected ticket listing. As an example, the chat with seller button 1222 can be selectively enabled in the GUI 1200B when the user (potential buyer) attempts to bid on a ticket listing (e.g., ticket listing 312) during the criticality time period. An example chat sequence among seller and buyer is illustrated in FIGS. 13A-13E. However, if is determined at operation 714 that the time is not in the criticality period (e.g., before 2 hours to the event), then at operation 718, a bid of the user is received for the selected ticket listing.

[0116] At operation 720, the user submits the bid. Thereafter, the method 700 ends at operation 722.

[0117] FIG. 8 illustrates a flowchart of an example method 800 of generating a suggested bid for bidding a ticket listing in accordance with the example method 700 of FIG.7.

[0118] At operation 802, the method 800 starts. At operation 804, there is received an identification of a ticket listing for a ticket being considered by a user for purchase. For example, the user (e.g., bidder 112a-l 12c) can select the ticket listing 310 for placing a bidrelating to a potential purchase. As illustrated in FIG. 4A, the ticket listing 310 is for Witcomb at II-B-5, having a list price of $65 and six active bids. At operation 806, the bids on the ticket listing are identified. At operation 808, there is computed an average of the bids on the ticket listing. At operation 810, active listings of tickets for seats having similar views to that of the ticket listing are identified.

[0119] At operation 812, an average of a difference in list price and highest bid of similar active listings is computed. In particular, a difference in the list price and highest bid is computed for each of the similar active listings, and the computed differences are then averaged to generate the average difference in list price and highest bid across the similar active listing considered.

[0120] At operation 814, completed sales of tickets for seats having similar views to that of the ticket listing are identified. At operation 816, an average sale price of the identified similar completed sales is computed.

[0121] At operation 818, a bid factor (b) is computed based on a number of the active listings. It should be noted that the operations 812-818 can be computed via a formula disclosed hereinbelow with reference to operation 828.

[0122] At operation 820, a determination is made as to whether a criticality time period has been reached before the event (e.g., 2 hours before the starting time of the event). A criticality period defines when the value of the ticket can start to devalue because it is getting critically close to the start time of the event. While different criticality time periods can be selected for different events, a general criticality time period is two (2) hours before the starting time of the event.

[0123] If at operation 820 it is determined that the time is before the criticality period (e g., greater than two hours before the event), then at operation 822 the devaluation factor is set to a first value (e.g., c=1.0). In particular, the first value of the devaluation factor indicates that there is no devaluation of bid price of a ticket to be computed, on the account of time criticality.

[0124] If at operation 820 it is determined that the time is during the criticality period (e.g, within 2 hours before the event), then at operation 824 the devaluation factor is computed based on span of time relative to the starting time of the event. This computed value of the devaluation factor indicates that the bid price for a ticket to be computed progressively devalues during the criticality period as the time advances closer to the starting time of the event.

[0125] However, if at operation 820 it is determined that the time is after the criticality period (e.g., after the event has already started), then at operation 826 the devaluation factor is set to a second value (e.g., c = 0.4). In particular, the second value of the devaluation factor indicates that there is a significant devaluation (e.g., 60% devaluation) of the bid price for a ticket to be computed, once the event has already started.

[0126] At operation 828, a bid price is computed as a summation that includes a first proportion of average bids on the ticket listing, a second proportion of a listing price minus a computed average of the difference in list price and highest bid in similar active listings, and a third proportion of average similar sales prices, with the summation adjusted based on the computed devaluation factor (c) and a bid factor (b).

[0127] The suggested Bid = Abid* c * b (i.e., computed bid * devaluation and bid factors)= (0.6 * Avg (bids on current listing)) + (0.2 * (listprice — Avg (similar list price — similar highest bid ) + (0.2 * Avg(similarsales)), whereinAvg(similar list price − similar highest bid) = (1 / n) Σ(list pricei− highest bidi)45 + 50 + 52.5 + 58 + 60 + 62.50

[0128] Abid= (45+90+85+60+50) / 5. Accordingly, Abid= 0.6*(54.67) + 0.2*(57.8) + 0.2*(66) = $57.56.

[0129] The criticality time factor used in this example is c = 1.0, i.e., before criticality period (e.g., greater than 2.0 hours before the event start time).i • i r-; i, number of similar listings

[0130] The competition bid factor b = 1 + (number of similar listings / 100) (i.e., a number of similar listings is n in the summation listed above). The computation of the bid factor is thus b = 1 + (5 / 100) = 1.05.100

[0131] The computed bid value $57.56 is thus multiplied by criticality time factor c = 1.0 and competition bid factor b = 1,05 for a suggested bid of $60.44. Accordingly, the suggested bid price of $60.44 has been computed based on certain information of the similar active listings and similar completed sales as illustrated in FIGS. 4A and 4B and adjusted based on the devaluation factor c and the bid factor b.

[0132] At operation 830, the computed bid price is returned as a suggested bid for the ticket listing being considered for purchase to operation 712 of method 700 illustrated in FIG. 7.

[0133] FIG. 9 illustrates a flowchart of an example method 900 of generating chat notifications to sellers, bidders, and watchers in the ticketing exchange system 100 of FIG 1. At operation 902, the method 900 starts, wherein the application server / content provider 102 determines wherein to provide and then provides chat notifications to sellers, bidders, and watchers.

[0134] In particular, at operation 904, a current time is determined before the event. At operation 906, a determination is made as to whether a criticality time period has been reached before the event (e.g., 2 hours before the starting time of the event). In particular, it is determined whether the current time is within the criticality time period. As discussed hereinabove, there can be different criticality time periods for different events. Generally, a general criticality time period is two (2) hours before the starting time of the event.

[0135] If it is determined that the criticality time period has not been reached at operation 904, then the method 900 continues at operation 904 until it is determined that the criticality time period has been reached at operation 906.

[0136] At operation 908, a chat access option is added to all active listings for the event to enable the chat of bidders and sellers, facilitating negotiations among the sellers andbidders and thus possible transactions The chat access option can be enabled as a button on a GUI associated with each of the active listings. For example, for a seller the button can appear or be enabled when reviewing a placed bid, thus allowing the seller to chat with the bidder (potential purchaser) who placed the bid. And for a buyer, the button can appear or be enabled when viewing a listing or bidding on a listing, thus allowing the buyer to chat with the ticket listing’s seller. An example chat button 1222 is shown in a disabled state (can be initially not shown) in the bidding GUI 1200B of FIG. 12B, and can then be enabled (or made to appear if not shown initially), upon reaching the criticality time period before the associated event.

[0137] At operation 910, sellers, bidders, as well as watchers are notified that the event is starting soon and that the chat feature is now accessible. The notification can be provided on the respective webpages and / or mobile applications of the sellers, bidders, and watchers, and / or can be communicated as emails to email addresses and / or texts / push notifications to devices (e.g., mobile devices) associated with the sellers, bidders, and watchers. Example buyer-seller chat sequence is described with respect to FIGS. 13A-13E. The method 900 ends at operation 912.

[0138] FIG. 10 illustrates a flowchart of an example method 1000 of determining a suggested sale price in a chat for an example ticket listing 310 in the ticketing exchange system 100 of FIG. 1. The chat can be among a seller and a buyer or a seller and a watcher in connection with the example ticket listing 310. The method 1000 starts at operation 1002.

[0139] At operation 1004, a request for a chat is received from a user (e.g., seller, bidder, or watcher) in connection with a certain ticket listing. In particular, a user can click a link (e.g., button) to a chat function, if and when the chat functionality is enabled by the application server / content provider 102.

[0140] For example, the application server / content provider 102 can receive a request from a seller for a chat with a potential buyer (e.g., bidder having previously placed a bid on the ticket listing), a potential buyer requesting to chat with the ticket listing’s seller, or a watcher (e.g., watcher previously watching the seller’s ticket listing) requesting to chatwith the ticket listing’s seller. There can be multiple chats on a ticket listing with different interested parties. Accordingly, a buyer, seller, or watcher can have an inbox view of all active chats. The chat causes respective graphical user interfaces (GUIs) to be presented on devices associated with the involved parties related to one or more ticket listings, e.g., a seller 110 and one of the bidders 112a- 112c, or the seller 110 and a watcher 114. An example buyer GUI 1300A is illustrated in FIG. 13A and an example seller GUI 1300B is illustrated in FIG. 13B.

[0141] At operation 1006, a current suggested listing price and a current suggested bid price are recomputed for the ticket listing for the current time based on current bids on the listing, current similar active listings, and similar completed sales, and other relevant devaluation factors as previously described herein. For example, method 600 illustrated in FIG. 6 can be called to recompute the suggested listing price for the ticket listing, while method 800 illustrated in FIG. 8 can be called to recompute the suggested bid price for the ticket listing.

[0142] At operation 1008, a suggested sale price of the ticket listing is computed as an average of current suggested listing price and current suggested bid price, e.g., as recomputed via the methods 600, 800.

[0143] At operation 1010, suggested sale price is displayed for the ticket listing in the chat. The chat in the example buyer GUI 1300A of FIG. 13A and the example seller GUI 1300B of FIG. 13B illustrates the suggested list price to both users (e.g., seller and buyer, or seller and watcher) associated with the chat. The method 1000 ends at operation 1012.

[0144] FIG. 11 illustrates a GUI 1100 of list prices of FIG. 4 A superimposed over the seats 306 of the venue 300 of FIG. 3. In particular, a user (e.g., buyer or seller) starts by interacting with the application server / content provider 102 to identify and select an event in which the user is interested, such as by looking either to buy or sell a ticket to the event. The user can identify and select such an event via a search function, or simply by selecting the event from a list of suggested events displayed by the server / content provider 102,

[0145] After selecting a specific event, the application server / content provider 102 fetches a seating map from venue seating database 106 for the selected event as shown in FIGS, 1 and 3, along with active listings for the event from the ticketing database 104. The list price of each active listing is then extracted from the ticket listing and superimposed over a corresponding seat location on the seating map.

[0146] Any one of the bidders 112a- 112c looking to place a new bid on a ticket listing can explore the seating map 106 by moving around the venue 300, considering the different seats, rows, and sections of the venue, and examining the displayed list prices of the active ticket listings. When the bidder has identified a ticket listing of interest, the bidder selects the ticket listing by clicking the displayed seat and / or price on the GUI 1100, which redirects the bidder to the bidding GUI 1200B illustrated in FIG. 12B.

[0147] FIG. 12A illustrates a graphical user interface (GUI) 1200A associated with generating a ticket listing for the example ticket 310 of FIG. 3 in the ticketing exchange system 100 of FIG. 1.

[0148] Upon uploading a ticket for an event, the application server / content provider 102 generates a ticket listing record in the ticketing database 104 and presents an associated GUI 1200A to the user to complete and submit the ticket listing In particular, the GUI 1200A displays information identifying the event and seating, a list price 1202, a selector enabling a reserve price 1204, a reserve price 1206, as well as links to active listings 1208 illustrated in FIG. 1 C and completed sales 2110 illustrated in FIG 12D that are similar to the ticket listing 310.

[0149] It should be noted that the list price 1202 can either be a suggested list price or a selected list price, and the reserve price 1206 can either be a suggested reserve price or a reserve price selected by the user, if the reserve price is enabled. In particular, a suggested list price and / or a suggested reserve price are initially computed and displayed by the application server / content provider 102, and can then be adopted or modified by the user (i e., seller) before submitting the completed ticket listing via button 1212 to the application server / content provider 102.

[0150] Upon submission of the ticket listing to the application server / content provider 102, the bidders 112a-112c and watchers 114 will be able to see and / or find the ticket listing for the event, in connection with a potential purchase of the underlying ticket.

[0151] FIG. 12B illustrates a graphical user interface (GUI) 1200B associated with generating an example bid for an example ticket listing 312 in FIG. 3 of the ticketing exchange system 100 in FIG. 1.

[0152] Upon selecting the example ticket listing 312 (V-B-4) for placing a bid, the application server / content provider 102 can present an associated GUI 1200B to the user for entering and submitting the bid on the ticket listing 312. In particular, the GUI 1200B displays information identifying the event and seating, a bid price 1214, a chat selector 1222 capable of being selectively enabled for conducting a seller-bidder chat, as well as a link to other bids 1216 on the current listing 312 as illustrated in a bids table of FIG. 12C, and respective links to active listings 1218 illustrated also in FIG 12C and completed sales 1220 illustrated in FIG 12D which are similar to the ticket listing 312.

[0153] It should be noted that the bid price 1214 can either be a suggested bid price or a selected bid price. In particular, a suggested bid price is computed by the application server / content provider 102 and can be adopted or modified by the user (i.e., bidder) before submitting the bid on the ticket listing 312 via button 1224 to the application server / content provider 102,

[0154] FIGS. 12C and 12D illustrate an example table 1200C of similar active listings and an example table 1200D of similar completed sales, respectively, as selected from the GUIS 1200A and 1200B of FIGS. 12A and 12B. Moreover, the sub-table of FIG. 12C is an example bids table as can be selected by a user by clicking other bids 1216 in the GUI 1200B.

[0155] In particular, upon clicking the link for active listings 1208 in GUI 1200A of FIG. 12A or active listings 1218 in GUI 1200B of FIG. 12B, the application server / content provider 102 generates table 1200C of similar active listings to the current ticket listing of GUIS 1200A or 1200B, such as for example, ticket listings 310 or 312 illustrated in FIG.3. Similarly, upon clicking the link for completed sales 1210 in GUI 1200A of FIG. 12A or completed sales 1220 in GUI 1200B of FIG. 12B, the application server / content provider 102 generates table 1200D of similar completed sales to the current ticket listing of GUIS 1200A or 1200B, such as for example, respective ticket listings 310 and 312.

[0156] While the tables 1200C, 1200B are similar to the tables 400A, 400B, they are not the same because they only illustrate the relevant seating and pricing information, but do not identify the user information associated with those listings. Moreover, table 1200C initially illustrates only the highest bid of the similar active listing. However, the user can display all bids by selecting the similar active listing in table 1200C, in which case the application server / content provider 102 generates table 1226 illustrating all bids for the selected similar active listing. Moreover, upon clicking the other bids link 1216, the application server / content provider 102 can directly generate the bids table 1226, showing all bids associated with the current bid being placed on the current ticket listing 312 of GUI 1200B in FIG. 12B.

[0157] As described herein, similar active listings and similar completed sales can include seats with similar views related to a view of the current ticket listing 310 (e.g., section II, row B, seat 5) or the current ticket listing 312 (e g., section V, row B, seat 4). For example, the similar active listings and similar completed sales of FIGS. 4A and 4B can include seats in a nearest number of rows to the current seat (e.g., 3-5 rows including current row plus two rows above and two rows below - if applicable to the venue) in a current section, seats of the same rows one section to the left and one section to the right of the current section (if applicable to the venue), and seats of mirroring sections and rows on opposite side of venue (if applicable to the venue), e.g., 1-3 sections of 3-5 rows with seats of similar view on opposite side of venue. As previously described, different criteria could be chosen for consideration of similar active listings and similar completed sales based on the dimensions, configurations, and seating of the venue 300 illustrated in FIG.3.

[0158] Accordingly, for the ticket listings 310 and 312, similar active listings in table 1200C and similar completed sales in table 1200D can include seats 306 in sections 1-111, rows A-C on one side of the venue 300, and seats 306 in mirroring sections IV-VI, rows A-C.

[0159] As an example, FIG. 4A provides a table 400A of similar active listing to ticket listing 310 and FIG. 4B provide a table 400B of similar completed sales.

[0160] FIGS. 13A-13E illustrate a seller-buyer chat sequence relating to an example ticket listing 310 of FIG. 3 in the ticketing exchange system 100 of FIG. 1. As described hereinabove, a chat request can be received from a user (e.g., seller, bidder, or watcher) in connection with a certain ticket listing, such as by clicking a link (e.g., button) to a chat function, if and when the chat functionality is enabled by the application server / content provider 102.

[0161] Example graphical user interfaces (GUIs) 1300A and 1300B illustrate example chat functionality between a seller and a buyer. As described herein, the GUIs are presented on respective devices associated with the involved parties, e.g., a seller 110 and one of the bidders 112a- 112c, or the seller 110 and a watcher 114. Each of the GUIs 1300A, 1300B illustrates the following information associated with the ticket listing, event information (e.g., venue, name, date, and time associated with the event), countdown to the start of the event (e.g., hours and minutes), various context-based messages, etcetera. As described earlier, the chat functionality can be enabled within the criticality period of time, such as two (2) hours in advance of the event to facilitate negotiation and possible transaction among the parties, resulting in the sale of the ticket associated with the ticket listing,

[0162] As further illustrated in the example GUIs 1300A, 1300B, a suggested sale price of the ticket listing is computed as an average of current suggested listing price and the current suggested bid price, e.g., as computed via the methods 600, 800 described hereinabove in greater detail. The suggested sales price is displayed to both the seller and the buyer via respective GUIs 1300A, 1300B, thus facilitating negotiation and possible transaction at among the parties during the criticality period of time, thus resulting in the sale of the ticket associated with the ticket listing.

[0163] Example GUIs 1300A, 1300B illustrate an example chat sequence among the seller and the buyer, initiated by the seller in FIG. 13 A, related to a ticket listing a suggested sale price of which has been computed to be $47.50 (e.g., an average of a current suggested listing price and current suggested bid price computed via the methods 600, 800). The user can select one of several pre-filled context-based messages, such as, a greeting 1304 or a query 1306 displayed in a bottom panel display 1302A of the GUI 1300A in FIG. 13A. The displayed messages can be the same or different, and different types of messages can be designated as might be appropriate or desirable for particular types of ticket listings, e.g., sports, performing arts, etc.

[0164] In the example chat sequence, the seller selected a query message for the buyer “Interested in my ticket9” The query' message is displayed to the buyer in the buyer’s GUI 1300B in FIG, 13B. In response, the buyer can select one of several pre-filled messages based on the context of the seller’s selected message 1306, such as, an acceptance 1310, an offer 1312, or a declination 1314, displayed in a bottom panel display 1308A of the GUI 1300B. For example, had the seller selected a greeting 1304, the buyer’s choice of messages could have also included a greeting based on the context of the selected message, e.g., a similar message of “Hi.”

[0165] As part of the example chat sequence, the buyer selected a counter message 1312 for the seller, “I’m offering Sxx.xx.” In this example, the buyer can provide a user-selectable amount as part of the counter message. It should be noted that the selectable amount includes a similar number of digits, as the suggested sale price, in order to avoid possible fraud among buyer and seller, where the dollar amount could be used to exchange certain contact information, such as a telephone number, etc., thus making it possible for the counter parties to conduct a private transaction in connection with the ticket listing. In this case, the buyer entered a value of $20.00.

[0016] The buyer’s counter message 1312 is displayed to the seller via the seller’s GUI 1300A in FIG. 13C. In response, the seller can select one of several pre-filled messages based on the context of the buyer’s counter message 1312, such as, an acceptance 1316(“Deal”), a general counter 1318 (“Too low”), or a specific counter 1320 (“How about xx, xx ”), displayed in a bottom panel display 1302B of the GUI 1300B in FIG. 13C.

[0167] As part of the example chat sequence, the seller selected a counter message 1320 for the buyer, “How about $xx.xx.” In this example, the seller can also provide a user-selectable amount as part of its counter message 1320. It should be noted that the selectable amount also includes a similar number of digits, as the suggested sale price, in order to avoid possible fraud among buyer and seller, where the dollar amount could be used to exchange certain contact information, such as a telephone number, etc, thus making it possible for the counter parties to conduct a private transaction in connection with the ticket listing. In this case, the seller entered a value of $25.00 into the message 1320.

[0168] The seller’s counter message 1320 is displayed to the buyer via the buyer’s GUI 13008 in FIG. 13D. In response, the buyer can select one of several pre-filled messages based on the context of the seller’s counter message 1320, such as, an maximum amount buyer is willing to pay 1322 (“No, $xx.xx is max”), a further specific counter 1324 (“How about xx. xx?”), or an acceptance 1326 (“Deal”), displayed in a bottom panel display 1308B of the GUI 1300B in FIG. 13D.

[0169] As part of the example chat sequence, the buyer selected an acceptance message 1326 (“Deal”) for the seller. The buyer’s message 1326 is displayed to both the buyer and the seller GUI 1300C in FIG. 13E, In the panel 1328, a congratulatory message is provided to both seller and buyer for coming to an agreement, and that the sale / purchase transaction is being processed. Conventional online functionality / methodology can be used to process an online sale / purchase transaction, such as via a credit card, etc. using the payment methods associated with the buyer’s and seller’s accounts, thus transferring ownership of the underlying ticket from the seller to the buyer.

[0170] FIG. 14 is a block diagram of an illustrative embodiment of a general computer system 1400. The computer system 1400 can include a set of instructions that can be executed to cause the computer system 1400 to perform any one or more of the methods or computer based functions disclosed herein in FIGS. 1-13E. The computer system 1400, or any portion thereof, may operate as a standalone device or may be connected, e.g., usinga network or other connection, to other computer systems or peripheral devices. For example, the computer system 1400 may be any one of the electronic components 102-112c in the system 100 illustrated in FIG. 1.

[0171] The computer system 1300 may also be implemented as or incorporated into various devices, such as a personal computer (PC), a tablet PC, a personal digital assistant (PDA), a computing device or mobile device (e.g., smartphone), a palmtop computer, a laptop computer, a desktop computer, a communications device, a control system, a web appliance, or any other machine capable of executing a set of instructions (sequentially or otherwise) that specify actions to be taken by that machine. Further, while a single computer system 1400 is illustrated, the term “system” shall also be taken to include any collection of systems or sub-systems that individually or jointly execute a set, or multiple sets, of instructions to perform one or more computer functions,

[0172] As illustrated in FIG. 14, the computer system 1400 may include a processor 1402, e.g., a central processing unit (CPU), a graphics-processing unit (GPU), or both. Moreover, the computer system 1400 may include a main memory 1404 and a static memory 1406 that can communicate with each other via a bus 1426. As shown, the computer system 1400 may further include a video display unit 1410, such as a liquid crystal display (LCD), an organic light emitting diode (OL ED), a flat panel display, a solid state display, a cathode ray tube (CRT), or another video display unit. Additionally, the computer system 1400 may include an input device 1412, such as a keyboard, and a cursor control device 1414, such as a mouse. The computer system 1400 can also include a disk drive (or solid state) unit 1416, a signal generation device 1422, such as a speaker or remote control, and a network interface device 1408.

[0173] In a particular embodiment or aspect, as depicted in FIG. 14, the disk drive (or solid state) unit 1416 may include a computer-readable medium 1418 in which one or more sets of instructions 1420, e.g., software, can be embedded. Further, the instructions 1420 may embody one or more of the methods or logic as described herein. In a particular embodiment or aspect, the instructions 1420 may reside completely, or at least partially, within the main memory 1404, the static memory 1406, and / or within the processor 1402during execution by the computer system 1400. The main memory 1404 and the processor 1402 also may include computer-readable media.

[0174] In an alternative embodiment or aspect, dedicated hardware implementations, such as application specific integrated circuits, programmable logic arrays and other hardware devices, can be constructed to implement one or more of the methods described herein. Applications that may include the apparatus and systems of various embodiments or aspects can broadly include a variety of electronic and computer systems. One or more embodiments or aspects described herein may implement functions using two or more specific interconnected hardware modules or devices with related control and data signals that can be communicated between and through the modules, or as portions of an application-specific integrated circuit. Accordingly, the present system encompasses software, firmware, and hardware implementations.

[0175] In accordance with various embodiments or aspects, the methods described herein may be implemented by software programs tangibly embodied in a processor- readable medium and may be executed by a processor. Further, in an exemplary, nonlimited embodiment or aspect, implementations can include distributed processing, component / object distributed processing, and parallel processing. Alternatively, virtual computer system processing can be constructed to implement one or more of the methods or functionality as described herein.

[0176] It is also contemplated that a computer-readable medium includes instructions 1420 or receives and executes instructions 1420 responsive to a propagated signal, so that a device connected to a network 1424 can communicate voice, video or data over the network 1424. Further, the instructions 1420 may be transmitted or received over the network 1424 via the network interface device 1408.

[0177] While the computer-readable medium is shown to be a single medium, the term “computer-readable medium'’ includes a single medium or multiple media, such as a centralized or distributed database, and / or associated caches and servers that store one or more sets of instructions. The term “computer-readable medium” shall also include any medium that is capable of storing, encoding or carrying a set of instructions for executionby a processor or that cause a computer system to perform any one or more of the methods or operations disclosed herein.

[0178] In a particular non-limiting, example embodiment or aspect, the computer-readable medium can include a solid-state memory’, such as a memory card or other package, which houses one or more non-volatile read-only memories. Further, the computer-readable medium can be a random access memory or other volatile re-writable memory. Additionally, the computer-readable medium can include a magneto-optical or optical medium, such as a disk or tapes or other storage device to capture carrier wave signals, such as a signal communicated over a transmission medium. A digital file attachment to an e-mail or other self-contained information archive or set of archives may be considered a distribution medium that is equivalent to a tangible storage medium. Accordingly, any one or more of a computer-readable medium or a distribution medium and other equivalents and successor media, in which data or instructions may be stored, are included herein.

[0179] In accordance with various embodiments or aspects, the methods described herein may be implemented as one or more software programs running on a computer processor. Dedicated hardware implementations including, but not limited to, application specific integrated circuits, programmable logic arrays, and other hardware devices can likewise be constructed to implement the methods described herein. Furthermore, alternative software implementations including, but not limited to, distributed processing or component / object distributed processing, parallel processing, or virtual machine processing can also be constructed to implement the methods described herein.

[0180] It should also be noted that software that implements the disclosed methods may optionally be stored on a tangible storage medium, such as: a magnetic medium, such as a disk or tape; a magneto-optical or optical medium, such as a disk; or a solid state medium, such as a memory card or other package that houses one or more read-only (nonvolatile) memories, random access memories, or other re-writable (volatile) memories. The software may also utilize a signal containing computer instructions. A digital file attachment to e-mail or other self-contained information archive or set of archives is considered a distribution medium equivalent to a tangible storage medium. Accordingly,a tangible storage medium or distribution medium as listed herein, and other equivalents and successor media, in which the software implementations herein may be stored, are included herein.

[0181] There have thus been described a ticketing exchange system and method directed to computing objective list and bid values of event tickets based on similar active listings and similar completed sales, adjusted based on one or more factors, such as time criticality, desirability, competition, and reserve factors.

[0182] Although specific example embodiments or aspects have been described, it will be evident that various modifications and changes may be made to these embodiments or aspects without departing from the broader scope of the invention. Accordingly, the specification and drawings are to be regarded in an illustrative rather than a restrictive sense. The accompanying drawings that form a part hereof, show by way of illustration, and not of limitation, specific embodiments or aspects in which the subject matter may be practiced. The embodiments or aspects illustrated are described in sufficient detail to enable those skilled in the art to practice the teachings disclosed herein. Other embodiments or aspects may be utilized and derived therefrom, such that structural and logical substitutions and changes may be made without departing from the scope of this disclosure. This Detailed Description, therefore, is not to be taken in a limiting sense, and the scope of various embodiments or aspects is defined only by the appended claims, along with the full range of equivalents to which such claims are entitled.

[0183] Such embodiments or aspects of the inventive subject matter may be referred to herein, individually and / or collectively, by the term “invention” merely for convenience and without intending to voluntarily limit the scope of this application to any single invention or inventive concept if more than one is in fact disclosed. Thus, although specific embodiments or aspects have been illustrated and described herein, it should be appreciated that any arrangement calculated to achieve the same purpose may be substituted for the specific embodiments or aspects shown. This disclosure is intended to cover any and all adaptations or variations of various embodiments or aspects Combinations of the aboveembodiments or aspects, and other embodiments or aspects not specifically described herein, will be apparent to those of skill in the art upon reviewing the above description

[0184] The Abstract is provided to comply with 37 CFR § 1.72(b) and will allow the reader to quickly ascertain the nature and gist of the technical disclosure. It is submitted with the understanding that it will not be used to interpret or limit the scope or meaning of the claims.

[0185] In the foregoing description of the embodiments or aspects, various features are grouped together in a single embodiment for the purpose of streamlining the disclosure This method of disclosure is not to be interpreted as reflecting that the claimed embodiments or aspects have more features than are expressly recited in each claim. Rather, as the following claims reflect, inventive subject matter lies in less than all features of a single disclosed embodiment or aspect. Thus the following claims are hereby incorporated into the Detailed Description, with each claim standing on its own as a separate example embodiment or aspect. It is contemplated that various embodiments or aspects described herein can be combined or grouped in different combinations that are not expressly noted in the Detailed Description. Moreover, it is further contemplated that claims covering such different combinations can similarly stand on their own as separate example embodiments or aspects, which can be incorporated into the Detailed Description.

Claims

Claims:

1. A ticketing exchange system of objectively determining values associated with a ticket to an event at a venue, the system comprising:a processing device;a memory storing instructions that, when executed by the processing device, perform operations comprising:receiving identification of a ticket listing for the ticket to the event at the venue in connection with listing a ticket on the ticket exchange system;accessing a seating map of a venue associated with the event;identifying completed sales and active similar listings of tickets having views similar to the ticket listing;computing a suggested list price as a summation of a first proportion and a second proportion, the first proportion directed to a first percentage of an average sale price of the similar completed sales, the second proportion directed to a second percentage of a weighted average of the active similar listings weighted by a desirability factor of each of the active similar listings, and adjusted by a time criticality factor relating to a start time of the event;receiving a list value for the ticket listing as the suggested list price or a different value selected by a user; andsubmitting the ticket listing.

2. The ticket exchange system of claim 1, wherein the operations further comprise: determining whether the ticket listing is in a criticality period relating to a start time of the event;setting the time criticality factor to a first value when a current time is earlier than the criticality period, wherein the criticality period extends to the start time of the event;computing the time criticality factor when the current time is within the criticality period based on a delta of the current time and the start time of the event divided by a constant related to the event, the criticality period, and / or one or more other factors; andsetting the time criticality factor to a second value when the current time is later than the criticality period and the event has started.

3. The ticket exchange system of claim 2, wherein:the criticality period is determined by computing if a current time is within a predetermined number of hours before the start time of the event;the time criticality factor is set to c = 1.0 when the current time is earlier than the criticality period,the time criticality factor is computed as c —- when the current time is with the criticality period, wherein &(timehr) is a delta of the current time and the start time of the event, and constant Cc= 2.5; andthe time criticality factor is set to c = 0.4 when the current time is later than the criticality period,4. The ticket exchange system of claim 3, wherein the predetermined number of hours is one of 2 hours, less than 2 hours, or greater than 2 hours.

5. The ticket exchange system of claim I, wherein the suggested list price is computed asSuggested List Price — Aiist* c Eq. 1 wherein Alist~ (0.75 * Avg(similarsaSes) + (0.25 * w Av g (similarlistings)), <. r. \ 1, number of bids on listingi, wherein wAvq (similar^ ) — - >,..., (p,- * -:- ).vn1number of competitve bids on all listings^ wherein — (0.75 * list price,) + (0.25 * highest bid on listing,), and wherein c —wherein a criticality period is 2 hours, A(timehr) is a delta of at-Ccurrent time and a start time of the event, and the constant Cc— 2.

56. The ticket exchange system of claim 5, wherein p, = list price of listingi when there is no competitive bid on the listingi, wherein the competitive bid is one that is at least a predetermined percentage of the list price.

7. The ticket exchange system of claim 6, wherein the predetermined percentage is at least 90%.

8. The ticket exchange system of claim 1, wherein the operations further comprise:determining whether computation of a reserve price is enabled; and computing a suggested reserve price when enabled, the suggested reserve price being the list value multiplied by a reserve factor.

9. The ticket exchange system of claim 8, wherein the reserve factor is 0.33.

10. The ticket exchange system of claim 8, wherein the operations further comprise displaying the suggested list price and the suggested reserve price, wherein one or more of the suggested list price and the suggested reserve price are capable of being selected or changed to different inputted values, wherein when the suggested list price is changed to an inputted list value then the suggested reserve price is recomputed based on the inputted list value.

11. The ticket exchange system of claim 1, wherein the operations further comprise:receiving identification of a ticket listing for the ticket to the event at the venue in connection with bidding on the ticket listing of the ticket listed on the ticket exchange system;accessing the seating map of the venue associated with the event;identifying active bids on the ticket listing,identifying completed sales and active similar listings of tickets having views similar to the ticket listing;computing a suggested bid price as a summation of a first proportion, a second proportion, and a third proportion, the first proportion directed to a first percentage of an average bid price of the bids on the ticket listing, the second proportion directed to a second percentage of a list price on the ticket listing minus an average of list prices and highest bids on active similar listings, the third proportion directed to an average of sale prices of completed sales, and adjusted by a time criticality factor relating to the start time of the event and a bid factor relating to a number of similar listings;receiving a bid value for the ticket listing as the suggested bid price or a different value selected by a user; andsubmitting the bid value on the ticket listing.

12. The ticket exchange system of claim 11, wherein the suggested bid price is computed asSuggested Bid. Price — Abid* c * b Eq. 2 wherein Abid~ (0.6 * Avgfbids on current listing)') + (0.2 * (list price — Avg(similar list price — similar highest bid)) + (0.2 * Avg(similarsales)), wherein Avg(similar list price — similar highest bid) = ~'£f=l(tist pricet— highest bidt), wherein c =wherein a criticality period is 2 hours, &(timefir) is a delta of acurrent time and a start time of the event, and the constant Cc= 2.5, and..,,, number of similar listingswherein D = H -.10013. The ticket exchange system of claim 12, wherein when a component of Abidhas no associated entries, wherein components include bids on current listing, similar active listings, and similar sales, a percentage attributed to the component is redistributed among remaining components that have associated entries.

14. The ticket exchange system of claim 13, wherein:when there are no bids on current listing, then Abid~ (0.5 * (list price — Avg(similar list price — similar highest bid)) + (0.5 * Avg(sim.ilarsales);when there are no similar active listings, then Abid— (0.7 * Avg(bids on current listing)) + (0.3 * Avg (similarsaies)),when there are no similar sales, then Ab d= (0.7 * Avg(bids on current listing)) + (0.3 * (list price — Avg (similar list price — similar highest bid)) andwhen two of the three components have no associated entries, then a remaining component makes up 100% of Abid.

15. The ticket exchange system of claim 11, wherein the operations further comprise: determining whether the ticket listing is in a criticality period relating to the start time of the even t; anddisplaying an option to start a chat session concerning the ticket listing.

16. The ticket exchange system of claim 15, wherein the operations further comprise: recomputing a list value and a bid value on the ticket listing;computing a suggested sale value of the ticket listing as an average of the list value and the bid value as recomputed;starting the chat session that includes presentation of the suggested sale value; presenting one or more context-based messages until a sale value is negotiated; and processing a transaction associated with the sale value of the ticket listing.

17. The ticket exchange system of claim 11, wherein the operations further comprise: determining whether the ticket listing is in a criticality period relating to the start time of the event; andnotifying a seller of the ticket listing, one or more buyers with active bids on the ticket listing, and one or more watchers associated with the ticket listing that a chat session is available, wherein a watcher is a user who does not have an active bid on the ticket listing but has expressed interest in the ticket listing or the event associated with the ticket listing.

18. A ticketing exchange method of objectively determining values associated with a ticket to an event at a venue, the method comprising:receiving identification of a ticket listing for the ticket to the event at the venue in connection with listing a ticket on a ticket exchange system;accessing a seating map of a venue associated with the event;identifying completed sales and active similar listings of tickets having views similar to the ticket listing;computing a suggested list price as a summation of a first proportion and a second proportion, the first proportion directed to a first percentage of an average sale price of the similar completed sales, the second proportion directed to a second percentage of a weighted average of the active similar listings weighted by a desirability factor of each of the active similar listings, and adjusted by a time criticality factor relating to a start time of the event, receiving a list value for the ticket listing as the suggested list price or a different value selected by a user; andsubmitting the ticket listing.

19. The ticket exchange method of claim 18, wherein the method further comprises:determining whether the ticket listing is in a criticality period relating to a start time of the event,setting the time criticality factor to a first value when a current time is earlier than the criticality period, wherein the criticality period extends to the start time of the event;computing the time criticality factor when the current time is within the criticality period based on a delta of the current time and the start time of the event divided by a constant related to the event, criticality period, and / or one or more other factors; andsetting the time criticality factor to a second value when the current time is later than the criticality period and the event has started.

20. The ticket exchange method of claim 19, wherein:the criticality period is determined by computing if a current time is within a predetermined number of hours before the start time of the event;the time criticality factor is set to c — 1.0 when the current time is earlier than the criticality period;........, itimehA,..... the time criticality factor is computed as c — when the current time is withthe criticality period, b(timehr) is a delta of the current time and the start time of the event, and the constant Cc= 2.5; andthe time criticality factor is set to c = 0.4 when the current time is later than the criticality period.

21. The ticket exchange method of claim 20, wherein the predetermined number of hours is one of 2 hours, less than 2 hours, or greater than 2 hours,22. The ticket exchange method of claim 18, wherein the suggested list price is computed asSuggested List Price = AUst* c Eq. 1 wherein AUst= (0.75 * Avg(similarsaies') + (0.25 * wAvg(similarUstingS)), number of bids on listinot. wherein wAvq -i(Pi * - - - \ - ).°v< number of competitive bids on all listings^ ^ wherein pL— (0.75 * list priced + (0.25 * highest bid on listing^). andwherein c =ccwherein a criticality period is 2 hours, (timehr) is a delta of a current time and a start time of the event, and the constant Cc= 2.5,23. The ticket exchange method of claim 22, wherein p(- = list price of listing^ when there is no competitive bid on the list Ingt, wherein the competitive bid is one that is at least a predetermined percentage of the list price.

24. The ticket exchange method of claim 23, wherein the predetermined percentage is at least 90%.

25. The ticket exchange method of claim 18, wherein the method further comprises: determining whether computation of a reserve price is enabled; andcomputing a suggested reserve price when enabled, the suggested reserve price being the list value multiplied by a reserve factor.

26. The ticket exchange method of claim 25, wherein the reserve factor is 0.33.

27. The ticket exchange method of claim 25, wherein the method further comprises displaying the suggested list price and the suggested reserve price, wherein one or more of the suggested list price and the suggested reserve price are capable of being selected or changed to different inputted values, wherein when the suggested list price is changed to an inputted list value then the suggested reserve price is recomputed based on the inputted list value.

28. The ticket exchange method of claim 18, wherein the method further comprises:receiving identification of a ticket listing for the ticket to the event at the venue in connection with bidding on the ticket listing of the ticket listed on the ticket exchange system;accessing the seating map of the venue associated with the event;identifying active bids on the ticket listing;identifying completed sales and active similar listings of tickets having views similar to the ticket listing;computing a suggested bid price as a summation of a first proportion, a second proportion, and a third proportion, the first proportion directed to a first percentage of an average bid price of the bids on the ticket listing, the second proportion directed to a secondpercentage of a list price on the ticket listing minus an average of list prices and highest bids on active similar listings, the third proportion directed to an average of sale prices of completed sales, and adjusted by a time criticality factor relating to the start time of the event and a bid factor relating to a number of similar listings;receiving a bid value for the ticket listing as the suggested bid price or a different value selected by a user; andsubmitting the bid value on the ticket listing.

29. The ticket exchange method of claim 28, wherein the suggested bid price is computed asSuggested Bid Price — Abid* c * b Eq. 2 wherein Abid= (0.6 * Avg (bids on current listing)) + (0.2 * (list price — Avg(similar list price — similar highest bid )) + (0.2 * Avg(similarsaies)). wherein Avg(similar list price — similar highest bid ) — ^^^(list price^ — highest bidi),wherein c =wherein a criticality period is 2 hours, A(timebr) is a delta of a CCcurrent time and a start time of the event, and the constant Cc— 2.5, and..,., number of similar listingswherein b = 1 +.10030. The ticket exchange system of claim 29, wherein when a component of Abidhas no associated entries, wherein components include bids on current listing, similar active listings, and similar sales, a percentage attributed to the component is redistributed among remaining components that have associated entries.

31. The ticket exchange system of claim 30, wherein:when there are no bids on current listing, then Abid= (0.5 * (list price — Avg(similar list price — similar highest bid)) + (0.5 * Avg (similarsaies).' when there are no similar active listings, then Abid= (0.7 * Avg(bids on current listing)) + (0.3 * Av g(similarsales)),'when there are no similar sales, then Abid— (0.7 * Avg(bids on current listing)) + (0.3 * (list price — Avg (similar list price — similar highest bid )., andwhen two of the three components have no associated entries, then a remaining component makes up 100% of Abid.

32. The ticket exchange method of claim 28, wherein the method further comprises: determining whether the ticket listing is in a criticality period relating to the start time of the event; anddisplaying an option to start a chat session concerning the ticket li sting.

33. The ticket exchange method of claim 32, wherein the method further comprises: recomputing a list value and a bid value on the ticket listing;computing a suggested sale value of the ticket listing as an average of the list value and the bid value as recomputed;starting the chat session that includes presentation of the suggested sale value; presenting one or more context-based messages until a sale value is negotiated; and processing a transaction associated with the sale value of the ticket listing.

34. The ticket exchange system of claim 28, wherein the operations further comprise: determining whether the ticket listing is in a criticality period relating to the start time of the event; andnotifying a seller of the ticket listing, one or more buyers with active bids on the ticket listing, and one or more watchers associated with the ticket listing that a chat session is available, wherein a watcher is a user who does not have an active bid on the ticket listing but has expressed interest in the ticket listing or the event associated with the ticket listing.

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