Method and system for an auction based on reducing BID

Details Method and system for an auction based on reducing BID Method and system for an auction based on reducing BID

2006-10-19

2010-12-14

Patel, Jagdish N (Department: 3693)

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

Automated electrical financial or business practice or...

Electronic shopping

C705S037000

Reexamination Certificate

active

07853484

ABSTRACT:
The present invention provides an auction method and system, that is, a seller proposes an expected selling price of an item in a tender offered by the seller and the item is announced and bid on the auction system provided by the manager of auction system, and a end time and a number of bids are set. Many buyers make bids by haggling the price down and a certain tendered bid with every bid is paid, and a bid-winner is a buyer who makes a “lowest price” and “only one” bid when the tender is concluded. The bid-winner is satisfied by buying the item at a low price, the selling price of the item offered by the seller and a commission of the auction system manager are obtained from total tendered bids of total bids and a bidding price by the bid-winner to satisfy three parties, such as the bid-winner, seller and auction system manager.

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