Patent ID: 8478657
Filing Date: 2013-07-02
Classification: G06Q

Abstract:
1. An auction method, comprising: maintaining, by a processor, a database of an upper limit of a bidding price range for a specific product, a lower limit of the bidding price range offered by a seller, and a limited number of winning bidders; receiving, by the processor, bidding information including bidding prices for the specific product from bidders, the bidding prices being within the bidding price range; terminating, by the processor, bidding when a predetermined bidding time is elapsed; selecting, by the processor, a group of winning bidders such that the winning bidders are selected from bidders in descending order of the bidding prices and a total number of the winning bidders is equal to the limited number of winning bidders; applying, by the processor, a lowest bidding price among bidding prices of the selected winning bidders as a final sale price to all of the winning bidders; requesting, by the processor, payment from the winning bidders as the final sale price; and determining, by the processor, an auction commission based on an amount calculated by subtracting the lower limit of the bidding price range from the final sale price, wherein requesting the payment includes, if at least one of the winning bidders previously paid a corresponding bidding price, determining, by the processor, a refund amount calculated by subtracting the final sale price from the previously paid bidding price.