Auction system and method

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Electronic shopping

Reexamination Certificate

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Reexamination Certificate

active

07403915

ABSTRACT:
An auction system200in a networked environment. The system includes a preregistration module201for identifying and verifying a user of the auction system. The preregistration module checks the credit history of the user and generates a registration record of the user. The system includes an assurance module210for conducting a presale inspection of the merchandise item and to generate a merchandise inspection report. The system also includes a description module215for displaying the merchandise inspection report and a description report of the merchandise item. The system includes a bidding module220for processing a plurality of bids from a plurality of users. The bidding module analyzes each of the plurality of bids from each of the plurality of users to determine whether an incoming bid is higher or lower than a current high bid and to determine a current high bid. The system further includes a notification module250coupled to a system database for assigning each of the plurality of bids with each of the plurality of users and that notifies each of the plurality of users whether their bid is successful.

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