User-specified time-based proxy firing in online auctions
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United States of America Patent
Stats
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Sep 21, 2010
Grant Date -
Dec 12, 2002
app pub date -
Mar 29, 2001
filing date -
Mar 29, 2001
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Delay-paced online proxy bidding by providing a counter bid delay value parameter for automatic proxy bidding on behalf of a user in an online auction; automatically checking by an application server a current bid level of the online auction having a plurality of bids from other participants separated in time to form a bidding pace; determining by an application server that any a proxy condition has been met; and placing by an application server computer a counter bid the auction responsive to the proxy conditions being met and a time following or upon the elapse of a counter bid delay from a time of placement of the current bid; wherein the automatic checking, determining and placing counter bids produce a delay paced online proxy bidding according to the counter bid delay value and wherein escalation of the pace of bidding within the auction system is avoided.
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