Patent ID: 7409361
Filing Date: 2008-08-05
Classification: G06Q

Abstract:
1. A system for conducting interactive auctions with remote bidders, the system comprising: an auction system that maintains information related to a subject of an auction, the auction system establishes a price at which the subject of the auction is offered; and a remote bidder system that communicates a bid, including bid information, to the auction system, the bid accepting the offer for the subject of the auction at the price established by the auction system, the auction system using at least a portion of the bid information to accept the bid where the price for the subject of the auction is the same when the bid is processed by the auction system and to reject the bid where the price for the subject of the auction has changed, wherein auction system is maintains the price for the subject of the auction and a time related information associated with the price of the subject at a time during the auction, and wherein the bid information includes a time related component comparable to the time related information maintained by the auction system, and wherein the time related information associated with the price of the subject matter is further defined as time data associated with the time during the action when the subject matter is auctioned for the price, the auction system using the time data to determine whether the price of the subject of the auction has changed.