Patent ID: 6718312
Filing Date: 2004-04-06
Classification: G06Q

Abstract:
In a computer system connected to a plurality of auction participants, said auction participants including a plurality of bidders and either an entity on whose behalf the auction is conducted or the entity's agent, a method for auctioning a plurality of items using bid composition restrictions, comprising the steps of:a) in said computer system, receiving bids from at least some of said bidders, wherein each bid received comprises a grouping of one or more items from said plurality of items and a price; b) applying to a bid received from a bidder one or more bid composition restrictions, according to which the composition of said bid is restricted based on the composition of one or more prior bids from said bidder; c) recording only bids that satisfy bid restrictions, wherein said bid restrictions must include the applied bid composition restrictions; d) selecting a set of recorded bids; and e) communicating the selected set of recorded bids to at least some of the auction participants.