Method and apparatus for holding an online live auction to combine features of both the internet and traditional, real world auctions
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United States of America Patent
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Nov 23, 2010
Issued Date -
N/A
app pub date -
Jul 21, 2000
filing date -
Dec 8, 1999
priority date (Note) -
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status (Latency Note)
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Abstract
A method and apparatus are provided for conducting a live auction that combines various features of traditional and online auctions. According to one aspect of the present invention, the live auction includes a live, in-person auction component and a real-time online bidding environment component. Bidding information associated with an item in the online bidding environment is updated to reflect a current bid associated with the item in the live, in-person auction. During the live, in-person auction, a bid is be accepted from an online bidder in the online environment that reflects the online bidder's bid price for the item. Subsequently, the system bids on behalf of the online bidder against other online bidders as well as one or more live bidders that are participating in the live, in-person. As such, the live auction enables real-time online bidding in a live, in-person auction.
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