Method and system for auctioning assets and valuing same

Details Method and system for auctioning assets and valuing same Method and system for auctioning assets and valuing same

2007-06-11

2010-06-01

Rosen, Nicholas D (Department: 3625)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Electronic shopping

C705S027200

Reexamination Certificate

active

07729950

ABSTRACT:
A method and system for conducting, managing and executing over a communication network, an auction of claims or assets to buyers having expressed interest in purchasing claims or assets is presented. The method includes placing an indication of the availability of at least one of said assets at a remote site, wherein said indication is accessible by each of said buyers over said network, notifying at least one buyer predeterminedly expressing interest in items contained within said claims or assets of the availability of said at least one claim or asset, determining a market value of said at least one claim or asset based on historical data of same or similar claims or assets, dynamically adjusting the market value, conducting an interactive bidding process, notifying one of the bidding buyers of acceptance of a corresponding bid when said bid satisfies predetermined criteria, and recording the accepted bid.

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