System and method for conducting an electronic auction over...

Details System and method for conducting an electronic auction over... System and method for conducting an electronic auction over...

2005-03-22

2005-03-22

Millin, Vincent (Department: 3624)

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

Automated electrical financial or business practice or...

Finance

C705S026640

Reexamination Certificate

active

06871190

ABSTRACT:
An interactive system conducts auctions over an open communications network. Remote bidder site(s) are interconnected with remote scum site(s). Data for desired merchandise to be acquired at an auction is entered and a bidding strategy is automatically generated at a remote bidder site. The generated bidding strategy is dien implemented at a remote seller site. Auction data relating to merchandise to be auctioned is entered and a selling strategy is generated on the basis of the auction data at the seller site. Thereafter, the generated selling strategy is implemented by interaction with bidding agent(s) at the seller site. During an auction at a seller site, the bidder and seller actions are controlled and synchronized.

REFERENCES:
patent: 2319862 (1998-06-01), None

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