Patent ID: 7533051
Filing Date: 2009-05-12
Classification: G06Q

Abstract:
1. A computer-implemented auction method, comprising the steps of: Receiving, by an exchange server, user selectable update configuration information from remote bidders via a distributed computer network, the update configuration information including a user selectable time interval for receiving bid status updates, wherein the time interval is selected through a graphical user interface of a browser, and wherein the exchange server includes a computer readable memory and a processor; adjusting the time interval for the update configuration information dynamically as the auction is conducted; conducting, by an exchange server, an auction wherein bid information received from the remote bidders is compared to determine a bid status and wherein the bid status is used to determine the bid status updates for the remote bidders; disseminating the bid status updates to the remote bidders via the distributed computer network in accordance with the update configuration information; and designating an auction winner at the conclusion of the auction in accordance with a most competitive bid of the bid status.