Public-venue auction system and method of operation
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United States of America Patent
Stats
-
N/A
Issued Date -
Apr 10, 2003
app pub date -
Oct 4, 2001
filing date -
Oct 4, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A public-venue auction system, and method of operation. In an electronic ticket control system associated with regulating etickets for events at a facility, an auction database is maintained for storing information related to auction items, and proposed terms of sale for them. Information relating to items for auction is received, processed, and transmitted by the electronic ticket control system. Patrons transmit bids through their virtual ticket device. A bid processor receives bids and, at a predetermined time, determines which of them is the highest. An auction event may be initiated by a buyer or seller, or by a third party. Once an auction event is consummated, the owner-operator of the facility will normally facilitate the exchange of consideration, and may provide an on-site clearinghouse for the purpose and charge an auction fee for facilitating the auction.
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Cited Art Landscape
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