Patent ID: 6026383
Filing Date: 2000-02-15
Classification: G06Q,H04L

Abstract:
A method for conducting an automated auction in a system including a plurality of bid entry terminals, bid entry terminals operated by bidders, and a bidding information processor, the bidding information processor being communicatively coupled to bid entry terminals, the method comprising:a) receiving transaction curve information from participating bidders at a plurality of bid entry terminals;b) transmitting a signal representing bidding information from the bidding information processor to a plurality of the bid entry terminals, the current bidding information including at least an indicator of a current price;c) accessing the received transaction curve information at the bid entry terminal, extracting a bid corresponding to the current price and transmitting a signal representing the bid to the bidding information processor; andd) generating updated bidding information and repeating a)-c), if any objects remain available.