Method of conducting an on-line auction with bid pooling
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United States of America Patent
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Aug 11, 1998
Grant Date -
N/A
app pub date -
Feb 20, 1996
filing date -
Feb 20, 1996
priority date (Note) -
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status (Latency Note)
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Abstract
A method of conducting an on-line auction that permits individual bidders to pool bids during a bidding session. The auction is conducted over a computer network that includes a central computer, a number of remote computers, and communication lines connecting the remote computers to the central computer. A number of bidding groups are registered in the central computer, each bidding group having a total bid for the item being auctioned. Bids entered from the remote computers are received in the central computer, each bid including a bid amount and a bid designation. Each bid amount is contributed to the total bid of the bidding group indicated by the bid designation. The bidding group having the largest total bid at the end of the bidding session wins the item being auctioned.
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Cited Art Landscape
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