Aggregation of on-line auction listing and market data for use to increase likely revenues from auction listings
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United States of America Patent
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N/A
Issued Date -
Jun 27, 2002
app pub date -
Sep 24, 2001
filing date -
Sep 25, 2000
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A web crawling engine is configured to mine auction web sites for auction market data. On-line auction market data are aggregated for use in determining how to best list an item for sale through an on-line auction. The market data include listing options (e.g., duration, opening bid) as well as data descriptive of the auction's progress (e.g., current bid). Auction market data can also be actively accumulated by actively listing items at auction, varying the listing options, and monitoring the same auctions. Data is analyzed to identify correlations between item listing options and desirable auction results, such as closing bid price. A multivariable curve fitting is performed based upon the accumulated data to create a function that yields auction revenue as a function of listing options. A set of options that corresponds to the maxima of this function is identified as an optimal set of listing options for a product.
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