Concurrent Auction System with Sub-Auction Segmentation
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current auction methods are limited in increasing the number of items auctioned during a given period, leading to reduced speed and excitement in the bidding process.
Innovation Solution
A method and system for concurrently auctioning multiple units, where bidders can place bids on separate sub-auctions for different units within an auction period, allowing for the assembly of user teams by awarding units to user profiles, with features like high bid periods, counterbidding, and overtime bidding to enhance the bidding process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If multiple items are auctioned sequentially using current auction methods, then each item receives adequate bidding attention, but the number of items auctioned during a given period is limited and the auction process lacks speed and excitement
Solution Approach 1:
The patent divides a group of multiple items into separate sub-auctions, where each sub-auction focuses on one or more specific items within the group. This segmentation allows the system to manage multiple items simultaneously through parallel sub-auctions, thereby increasing the number of items auctioned per period while maintaining organized bidding processes for each segment
Solution Approach 2:
The patent introduces a temporal dimension by allowing sub-auctions to occur concurrently rather than sequentially. By organizing auctions in parallel time streams (sub-auctions within an auction group), the system effectively adds a dimensional layer to the auction process, enabling multiple items to be auctioned simultaneously and significantly increasing throughput
2Ease of operation
If bidders can only bid on one item at a time, then bidding attention is focused on individual items, but user participation and excitement are reduced
Solution Approach 1:
The patent enables bidder accounts to participate in multiple sub-auctions simultaneously, making the bidding system multi-functional. Users can place bids on different items within the same auction group across parallel sub-auctions, allowing a single user account to engage in multiple bidding activities at once, thereby increasing overall participation and excitement
Data Source
AI summary
The present system and method provides a unique and fast-paced method of auctioning multiple units concurrently. An auction group is created within the server, being made up of a plurality of, preferably homologous, units. All units within the auction group are concurrently auctioned in a primary auction, with each unit being bid upon within cooccurring separate sub-auctions within an auction period. Each bidding user has the opportunity to bid within one or more sub-auctions. Upon receiving a high bid within a particular sub-auction, a high bid period for that sub-auction is initiated, within which a counterbid must be received or the unit within that sub-auction will be awarded to the high bidding user. The sub-auctions may individually end prior to the expiration of the auction period. Successive primary auctions can be initiated, so that the user may obtain one or more units within each primary auction.