Reserve price auctioning

Details Reserve price auctioning Reserve price auctioning

2007-05-01

2007-05-01

Kramer, James (Department: 3627)

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

Automated electrical financial or business practice or...

Finance

C705S026640, C705S027200

Reexamination Certificate

active

09852831

ABSTRACT:
A method and implementing system are provided in which items are offered for auction sale at a network site to bidders who access the auction site. A seller is enabled to designate a reserve price as well as a number of automatic auction extensions to an initial auction period. If the designated reserve price for an item is not met during the initial auction period, and the seller has authorized a designated number of auction extensions, the auction is continued beyond the initial auction period and is automatically extended for the designated number of extensions until either a bid for the reserve price is received or the number of authorized extensions has transpired.

REFERENCES:
patent: 5905975 (1999-05-01), Ausubel
patent: 5999915 (1999-12-01), Nahan et al.
patent: 6041308 (2000-03-01), Walker et al.
patent: 6085169 (2000-07-01), Walker et al.
patent: 6230147 (2001-05-01), Alaia et al.
patent: 2002/0103740 (2002-08-01), Maroney

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