Patent ID: 6012045
Filing Date: 2000-01-04
Classification: G06Q

Abstract:
A computer-based method of purchasing consumer products and consumer services via an electronic bid, auction and sale comprising the steps of:providing a computer system for the electronic bid, auction and sales of a plurality of consumer products and services, providing a plurality of customer computers operated by customers and providing access to said computer system by said plurality of computers with a telecommunications system linking said computer system and said plurality of computers;electronically establishing a virtual showroom on said computer system, said virtual showroom being accessible by said plurality of customer computers and including electronic displays of said plurality of consumer products and services which are offered for sale;electronically displaying the following textual information for each one of said plurality of products and services:information regarding a commonly available selling price for each one of said plurality of products and services,a minimum opening bid price,information regarding the make, model and manufacturer or supplier of said plurality of products and services, andbid cycle data revealing when a bid period is open and when bids will be accepted for each one of said products and services;electronically blocking customers from becoming bidders and posting bids until said customers have electronically pre-registered;electronically posting all bids received for each one of said plurality of products and services during said bid period;accepting the highest bid submitted for the sale of one of said plurality of products and services from all bids submitted by said bidders and excluding all bids greater than the lowest high bid from a group of bids submitted by a single bidder for said one of said plurality of products and services;electronically consummating the sale of said one of said plurality of products and services to the highest bidder via electronic confirmation;accepting an electronic payment of funds from each bidder for each bid based upon the number of bids submitted by said bidder;for customers who have not pre-registered, permitting said customer to place fictitious bids for one or more of said plurality of products and services, posting said fictitious bids, generating a plurality of computer generated fictitious bids responsive to the posted fictitious bids, fictitiously accepting the highest bid from all fictitious bids while excluding all fictitious bids greater than the lowest high fictitious bid from a group of fictitious bids submitted by said customer for said one or more of said plurality of products and services, and fictitiously assessing a charge for each fictitious bid submitted by said customer thereby teaching said customer how the bid and auction purchasing system works; and,electronically posting all winning and accepted bids and documenting the sale of said plurality of products and services purchased by bidders.