Patent ID: 7617144
Filing Date: 2009-11-10
Classification: G06Q

Abstract:
1. A method of auctioning products, said method executed over a distributed networked computer system, said method executed using one or more computer systems, said method comprising: receiving by one or more computer systems an order for a product by specifying in the order at least conditions of a quantity of the product and an exposure time for which the order can be displayed for responses; receiving by one or more computer systems responses to the order, at least some of the responses specifying a relative price with a price improvement with the relative price being relative to a generally accepted indicator of a prevailing current market price for the product, and quantity for the product; and matching by one or more computer systems the order with a first one of the responses that meets all of the conditions specified by the order during the exposure time specified by the order, with matching of the first one of the responses with the order terminating the auction.