Reserve price auctioning
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United States of America Patent
Stats
-
May 1, 2007
Grant Date -
Nov 14, 2002
app pub date -
May 10, 2001
filing date -
May 10, 2001
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A method and implementing system are provided in which items are offered for auction sale at a network site to bidders who access the auction site. A seller is enabled to designate a reserve price as well as a number of automatic auction extensions to an initial auction period. If the designated reserve price for an item is not met during the initial auction period, and the seller has authorized a designated number of auction extensions, the auction is continued beyond the initial auction period and is automatically extended for the designated number of extensions until either a bid for the reserve price is received or the number of authorized extensions has transpired.
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