Introducing a fixed-price transaction mechanism in conjunction with an auction transaction mechanism
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United States of America Patent
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May 31, 2016
Grant Date -
Mar 27, 2014
app pub date -
Dec 2, 2013
filing date -
Dec 31, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
A method and system that introduces a fixed-price transaction mechanism in conjunction with an auction transaction mechanism. The system facilitates a network-based auction price-setting process for a listing using a fixed price-setting process. The listing includes a reserve price that is adjusted by receiving, via an interface, an adjustment to the reserve price to generate an adjusted reserve price. The system further identifies whether the adjusted reserve price is less than a proxy bid that has been received from a bidder for the listing.
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