Patent ID: 7580870
Filing Date: 2009-08-25
Classification: G06Q

Abstract:
1. A method for conducting an auction to win with a lowest but also unique bid, the method comprising: a server receiving an item to be listed for auctioning via the server; specifying in the server a set of requirements including a deadline for the item; validating in the server a bid from a bidder for the item after the bidder pays a bidding fee; collecting bidding fees every time respective bidders place bids for the lowest bid; determining in the server whether the bid is currently lowest and also unique, wherein the item is won only when the bid for the item is a lowest but unique bid upon the deadline, where a value of the item through the auction includes the currently lowest but also unique bid plus the bidding fees; and determining a most active bidder who has bid the most number of times and wins the item at a price of a highest bid in a bidding history of the most active bidder in the auction when there are multiple bidders that offer identical bids being currently lowest.