Method and system for differential index bidding in online auctions
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United States of America Patent
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May 13, 2003
Grant Date -
N/A
app pub date -
Jun 8, 1999
filing date -
Jun 8, 1999
priority date (Note) -
In Force
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Abstract
A method and system for conducting electronic online auctions between a plurality of potential bidders using differential index bidding is disclosed. The originator of the auction specifies one or more indexes as the basis for establishing a competitive price point. The index can be a published market index, or a proprietary price array developed by the buyer. The bidders specify bids as a percentage or absolute amount off of the one or more indexes. The originator of the auction compares the submitted bids and provides feedback to the bidders.
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