Patent ID: 8370211
Filing Date: 2013-02-05
Classification: G06Q

Abstract:
1. A method of conducting a telephone based reverse auction for selling units where the reverse auction is transmitted to users on a medium by a system, the method comprising the steps of: providing a number of units for sale and storing a preliminary available quantity in an allocation database initially indicative of the number provided for sale; providing a telephone number to which calls from callers can be placed to enter the reverse auction; recording the time at which one or more calls were received on the telephone number in a call record in a call database; placing each caller into a queue and assigning them to a call operator or the system in order to sell a unit; conducting a reverse auction in which the system reduces the indicated price of a unit over time and reduces the preliminary available quantity, wherein the preliminary available quantity is reduced based at least partly on one or more preliminary indicators associated with the caller, and wherein the reducing of the preliminary available quantity occurs before a sale of a unit is completed; concluding the reverse auction at a time the preliminary available quantity is reduced to a pre-determined number; and storing in an auction database the price at the conclusion of the auction.