Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
1998-12-30
2002-09-10
Trammell, James P. (Department: 3621)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
06449601
ABSTRACT:
TECHNICAL FIELD
The present invention relates to the distribution of live auctions over a communications medium to remote bidders, and, in particular, to a method for efficiently monitoring a live auction, distributing real-time information concerning the live auction to remote bidders, and collecting bids from remote users and submitting the collected bids at the live auction.
BACKGROUND OF THE INVENTION
During the past five years, the Internet has blossomed from a medium for simple data exchange and messaging to the fastest growing, most innovative medium for information exchange and commerce. Virtual shopping malls, buying services, and other types of Internet-based retailing methods are being employed by an ever increasing number of retail merchants. In addition, a number of organizations, including eBay™, provide Internet-based auctions. Sellers of goods and services register those goods and services with the auction organization, and the auction organization then provides information over the Internet about the goods and services to potential bidders. A bidder may submit a bid via the Internet for a particular good or service to the auction organization. The auction organization collects bids over a period of time, after which the auction organization notifies the highest bidder that the highest bidder has submitted the winning bid, notifies the seller of the identity of the winning bidder, and provides for an exchange of information between the seller and the winning bidder for execution of the transaction. This type of auction is known as a “silent auction.”
With the rapid rise in popularity of Internet commerce and information services, and the rapid evolution of computer and communications technologies, great strides have been made in improving the timeliness, quality, quantity, and, perhaps most importantly, the types of information that can be exchanged through the Internet. Whereas ten years ago, the Internet was primarily used for file transfer and exchange of text-based messages, today the Internet is routinely used for distributing elaborate, interactive, real-time graphical displays, real-time audio, and real-time video. These technological improvements greatly increase the user appeal of Internet-based silent auctions. The technological innovations also provide a basis for more interesting and more interactive Internet-based auction models. For example, it would be desirable to conduct live auctions over the Internet
Distribution of a real-time, live auction is far more complex and technologically demanding than carrying out a silent auction over the Internet. Real-time live auctions are generally conducted by auctioneers in front of a live audience. Auctions are fast-paced, and bids may be submitted by very concise gestures or vocal signals. The auction of a single item may transpire in a very short interval of time, often as brief as ten seconds. Thus, real-time, live auctions require careful and quick monitoring and interaction with the auction process.
Real-time, live auctions comprise the auctioning of a sequence of lots. A lot may be a simple lot, composed of single good or service, or a choice or quantity lot, comprising a collection of goods and services that are auctioned together. Generally, a sequential inventory of the lots to be auctioned is prepared in advance and distributed to potential bidders in the form of a catalogue. However, the auctioneer generally has the discretion to change the sequence of lots during the auction, divide choice or quantity lots into smaller lots, or coalesce smaller lots into larger lots. Thus, during a live auction event, a bidder must monitor and quickly bid on a desired lot, while simultaneously tracking any changes in the sequence or groupings of goods and services offered.
There are a number of different types of auction styles. Yankee auctions begin with a low asking price, which is increased during the auction with each successful bid. Dutch auctions, by contrast, start with a high price that is decreased incrementally by the auctioneer until the auctioneer obtains a first, winning bid.
There are different types of lots, as mentioned above. Choice lots include a collection of goods or services. The auctioneer initiates bidding on a choice lot on a per-item price basis, eventually establishing a price point. The high bidder may select which items he or she wants from the inventory at that price point. The auctioneer offers the remaining inventory to the floor at the price-point value. If any items in the lot remain unsold, the auctioneer has the option of re-initiating bidding on a new lot comprising the unsold items, or passing and moving on to the next lot. Quantity lots comprise many identical items. As with choice lots, quantity lots involve establishing price points, although these price points typically have minimum quantities associated with them. The auctioneer first establishes a minimum quantity for a quantity lot, and then initiates bidding to establish a per-item price point. The high bidder may select the minimum quantity or may select more items at that price point. The auctioneer offers the remaining inventory to the floor at that minimum quantity and price point. If any inventory remains, the auctioneer establishes a new minimum quantity for the quantity lot, and then again initiates bidding to establish a per-item price point. The price points in quantity lots typically decrease as the minimum quantity constraint increases, allowing the auctioneer to sell small numbers of units at retail-lie values and large numbers of units at wholesale-like values within the same lot. A particular advantage to distributing a live auction over a communications medium, such as the Internet, is that, by bringing many thousands of Internet bidders to the auction, virtual bidders can have a huge impact on quantity lot pricing, with a far greater percentage of the inventory bid for and sold at retail-like values than at a conventional live event.
Real-time, live auctions have far greater entertainment value, and may be more efficient in time, than the silent auctions currently conducted over the Internet. However, for real-time, live auctions to be distributed over the Internet, Internet-based solutions and methodologies must be devised to overcome the many complex problems associated with real-time, live auctions. In particular, an Internet-based facility for distribution of real-time, live auctions to remote bidders over the Internet, or a similar communications medium, must address the following problems: (1) a need for real-time monitoring and interaction with the auctioneer and auction audience; (2) a need for rapidly disseminating status information from the live auction, in real-time, to remote bidders; (3) a need for rapidly and efficiently collecting bids from remote bidders and presenting those bids to the auctioneer; (4) a need for authorizing and verifying remote bidders' identities; and (5) a need for quickly determining any changes in the sequence of lots and lot assignments that occur during the course of a live auction and distributing information about the changes to remote bidders.
SUMMARY OF THE INVENTION
The present invention relates to the distribution of real-time, live auctions, conducted by a live auctioneer in the presence of an audience of bidders, to remote bidders via the Internet. The invention consists of four primary modules: a client program running on a remote computer, a network of collector/redistributor nodes running on the broadcaster's enterprise backbone, an auction server process associated with a database where auction state and persistent data are stored, and an auction console that resides at the site of the live event, allowing a proxy to introduce remote bids on the floor and report status back to the remote audience.
Each remote bidder interacts with a client program running on a remote computer. The client program allows the remote bidder to log into a distributed live auction (“DLA”) system in order to register as a remote bidder for a particular live aucti
Friedland Noah S.
Kruse Sky T.
Amazon.com Inc.
Elisca Pierre E.
Knobbe Martens Olson & Bear LLP
Trammell James P.
LandOfFree
Distributed live auction does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Distributed live auction, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Distributed live auction will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-2838753