Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2001-05-25
2004-11-02
Hayes, John W. (Department: 3621)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S001100
Reexamination Certificate
active
06813612
ABSTRACT:
TECHNICAL FIELD
The present invention relates to the field of converging real-life events and remote access through network communications and, more particularly, to a remote bidding supplement for traditional live auctions that provides the capability for a user to instantaneously interact with and enjoy the emotion and enthusiasm of a traditional, live auction (i.e., view items for sale, view live bidding, hear the auctioneer calling bids, view the activities of the onsite participants, make bids, buy items) from a position that is physically remote from the live auction.
BACKGROUND OF THE INVENTION
Traditional-style auctions are ignoring a significant market—the physically remote purchasers who will purchase an item without being physically present to kick the tires, feel the smoothness of a vase, hear the roar of a diesel engine or authenticate an ancient item.
Currently, there are two types of remote auction systems. The first type of remote auction system has no “live” auctioneer and the entire bidding audience must be connected to the network or system. In this case, the network computer or server acts as the auctioneer, accepting bid values from the connected audience with associated time stamps based upon bid receipt by the server. Each bid is either accepted or rejected by the server, the bidder (sometimes the entire audience) is notified of its acceptance or rejection. All of the items for sale in this type of auction are generally available for the entire duration of the auction and each item has a specified end time after which no bids will be accepted.
The second type of remote auction system is much like the first; however, it may or may not have a “live” auctioneer. The main difference from the first type of remote auction system is that each item for sale is not available at the same time; rather, the auction moves from item to item and depending upon the bidding activity and upon either the server's or “live” auctioneer's choice, the item is sold and the event moves on to the next item on the list.
A disadvantage of remote auctioning systems is that the participating bidders are not engrained into the excitement and energy of the live auction. From the perspective of an auction company, this can have a significant impact on the success, or the earnings, of the auction company. Many books have been written about the psychology of the auction floor and the best auctioneers are talented in the science of reading a crowd and individuals, playing them off of each other, and drawing larger bids for the items being auctioned. Thus, there is a need in the art for a technique to integrate remote auctioning systems into the real life environment of the auction floor. There is also a need in the art to allow the auctioneer to extend his or her talents beyond the auction floor and “work” the crowd of remote bidders as well as the local bidders. There is also a need in the art to integrate remote bidders into a live auction setting in a manner that does not alienate or result in living an advantage to either the local bidders or remote bidders.
SUMMARY OF THE INVENTION
The present invention allows for prospective auction bidders to participate both in person as well as in a remote capacity. The present invention enables an existing traditional-style auction company to utilize technology that allows an auction to be conducted in the traditional style, generating the emotion and enthusiasm in the local audience, leaving the auctioneer in control of the sale, while providing the opportunity for other bidders to “attend” the auction event remotely (e.g., via the Internet), sharing the same emotion and enthusiasm as the local audience and participating in the bidding process without disadvantage, just as if those physically remote bidders were sitting in the local auction audience.
The present invention provides the catalyst for changing the live auction process by ensuring an environment in which all parties—whether in person or in a remote location—can participate as one audience without impact to the natural flow, speed and excitement of the live auction. Advantageously, the present invention allows remote bidders to compete—without disadvantage or a minimized disadvantage—against live floor bidders in an instantaneous bid environment while realizing the true emotion and enthusiasm of the traditional auction setting. The remote bidding system of the present invention operates to enhance the live auction process rather than to alter it. The control of the auction can easily remain with the live auctioneer and the auction company. The auctioneer can effectively and efficiently take bids from either the local audience or from the remote audience (e.g., via the Internet or some other local or global network). As in all traditional live auctions, the auctioneer can accept or reject any given bid from the local or remote audience. The system in effect greatly enlarges the potential pool of bidders by eliminating time, geographic or travel constraints on behalf of the bidder and quickly increases the potential reach of the auction company from a regional business to potentially a nationwide or worldwide business.
Goals of a successful seamless integration of a remote auction audience with the local or onsite audience include: (a) allowing the remote bidder to rapidly make a purchase decisions, (b) not alienating the bidders who took the time to actually come to the auction event, and (c) instilling the confidence of all parties (onsite, remote and the auction company) in the integrity of the process. The remote bidding system of the present invention accomplishes this through the following systems of the present invention.
1) Audio/Video System—The actual emotion and enthusiasm of a traditional-style auction event is transferred to the remote bidder or participant through streaming audio technology and further enhanced through real-time video technology. The audio is transmitted from the auction site to the remote participants with minimum delay through the network and the video is transmitted in real-time at a frame rate that supports a 56K modem connection to the network. Competing streaming live audio and video technologies of today utilize a buffering method at the encoding and/or the receiving end to achieve an acceptable level of quality for audio and video. In a traditional-style auction environment (i.e., dealer-only automobile auctions), an item may be sold every 7 to 30 seconds with approximately 10 to 30 bids. Buffering at the encoding and/or the receiving end typically adds 7 or more seconds in delay to the audio and video that would place the remote participant at an extreme disadvantage. The present invention removes the buffering without sacrificing quality and with a resulting delay that can be as little as one (1) second or less.
2) Bid/Clerk Systems—A Bid System controls the instantaneous interactions between the remote bidders, a Clerk System, and a Marquee System. The Clerk System controls the sequencing of items to be sold through the auction and controls the auction bidding process, both live and remote, for each item to be sold. The Marquee System displays instantaneously auction bid information for each item being sold at auction. The Bid System can include one or more bidding engines, including but not limited to the following bidding engines:
a. Cherokee Bid Engine—The Cherokee bid processing algorithm within the Bid System allows the auction to proceed at a very fast pace (in excess of 120 items per hour with sometimes as many as 30 bids per item). This algorithm uses a fixed increment predictive algorithm to present bid choices to both the Clerk System as well as the remote bidders. The Cherokee model also assigns the default high-priority to the remote bidders, but allows the auctioneer and Clerk System to change for any specific bid.
b. Iroquois Bid Engine—The alternative Iroquois bid processing algorithm within the Bid System allows the auction to proceed at a fast pace while adding flexibility in its fixed increment predictive algorithm t
Rabenold Nancy J.
Simmons James A.
Sper Paul D.
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