Patent ID: 7006987
Filing Date: 2006-02-28
Classification: G06Q

Abstract:
1. A computer-based method for conducting an on-line auction of a quantity of goods, comprising: from a communications network, receiving with an auction engine running on a computer device communicatively linked to the communications network a plurality of proxy bids comprising a limit price and a requested quantity; sorting with the auction engine the proxy bids in a descending order based upon the limit prices for the prow bids; operating the auction engine to determine at least one winner of the on-line auction comprising: bid of the winning bidder to the winning bidder; when the quantity of goods is greater than zero, assigning a next winning bidder designation to a next highest one of the proxy bids and repeating the allocating of the requested quantity; after the winner determining, generating with the auction engine a winning sale price to assign to each of the winning bidders, wherein the step of generating the winning sales price further includes: allocating a portion of the requested quantity of the proxy bid of the highest losing proxy bid to the highest losing proxy bid; and generating with the auction engine a second winning sale price for the highest losing proxy bid that is equivalent to the limit price of the highest losing proxy bid.