METHODS AND SYSTEMS FOR ONLINE AUCTIONING OF ITEMS

METHODS AND SYSTEMS FOR ONLINE AUCTIONING OF ITEMS

The present invention provides a system and method for facilitating an online auction of a plurality of items. The method includes determining an item ranking to each of the items to be auctioned in the online auction. The method includes dynamically receiving bids from a plurality of users, where e...

Ausführliche Beschreibung

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Bibliographische Detailangaben
1. Verfasser: GAVIN, Wesley Palmer
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
ELECTRIC DIGITAL DATA PROCESSING
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:The present invention provides a system and method for facilitating an online auction of a plurality of items. The method includes determining an item ranking to each of the items to be auctioned in the online auction. The method includes dynamically receiving bids from a plurality of users, where each bid includes a payment value representing an interest of purchase for at least one item from among the plurality of items. The method further includes dynamically determining a bid ranking of each bid from the plurality of users. The bid rankings are determined based on a function of the payment value corresponding to respective bid. The method further includes determining a winning bid for each item from among the bids received from the users. Once the winning bid is determined, the method further includes determining a mapping of the items and a winning bid for each of the items.