Patent ID: 8326691
Filing Date: 2012-12-04
Classification: G06Q

Abstract:
1. A method for enabling direct negotiations between remote consignors and bidders within a traditional-style live auction system in which items are auctioned off in sub-ten-minute intervals, comprising the steps of: providing audio/video system that streams instantaneously and buffer-free, live audio and video data from a live auction site to one or more remote auction consignors and bidders having bidding device for receiving the data and for transmitting instantaneously remote auction messages and bids for each consignor item being auctioned at a live auction site; providing clerk system that controls and accepts auction bids received at the live auction site from onsite auction bidders and from remote auction bidders for each consignor item being auctioned at the live auction site; providing marquee system that displays instantaneously at the live auction site auction bid information, including accepted auction bids and auction messages, for each consignor item being auctioned at the live auction site; providing bid system that broadcasts instantaneously to all remote auction consignors and bidders and to the marquee system auction bid information for each consignor item being auctioned at the live auction site, for receiving instantaneously messages and auction bids to and from each remote auction consignor and bidder for each consignor item being auctioned at the live auction site, for transmitting instantaneously to the clerk system each remote auction bid received for each consignor item being auctioned at the live auction, and for broadcasting instantaneously to all remote auction consignors and bidders and to the marquee system the onsite and remote auction bids that are accepted by the clerk system; and enabling a negotiation function that is integrated with the auctioning system for enabling a window of time commensurate to a traditional-style live auction for direct price negotiations between a remote auction consignor and a highest remote auction bidder for at least one unsold consignor item, after completion of a portion of a live auction earmarked for the sale of said at least one unsold consignor item.