Patent ID: 8219484

Claim:
A computer apparatus for processing bids in an online auction, comprising: a computer processor, a database for storing data, a network interface configured to receive data and programming from an operator, and a communication interface configured to communicate bi-directionally with user devices over a data communication network, where the apparatus receives, via the system interface, an identification of an item for sale from a seller and a floor price for the item determined by the seller and stores the identification and the floor price in the database; the identification of the item and a total quantity of the item for sale are transmitted via the network interface to a plurality of bidder devices for bidding by a plurality of bidders; the processor is programmed to: suppress, during the auction, the floor price such that the floor price is not available to the plurality of bidders; and limit each of the plurality of bidders to a predetermined number of bids on the item; the network interface further for receiving, from a first bidder, a first bid for a first quantity of the item less than the total quantity, the first bid within the predetermined number of bids, the first bid including a first bid price determined by the first bidder; the processor, in response to said receiving, compares the first bid price to the floor price stored in the database; and when the first bid price for the item is at least equal to the floor price, and independent of other bids by other bidders, substantially immediately notifying the first bidder, via the network interface, of the success of the first bid by initiating a sale of the first quantity of the item with the first bidder at the first bid price; after said notifying, the processor receives, from a second bidder via the network interface, a second bid on a second quantity of the item less than the total quantity in the auction at a second bid price, the second bid price at least equal to the floor price and lower than the first bid price, wherein the processor accepts the second bid from the second bidder; and after said accepting, completes the sale of the first quantity of the item with the first bidder at the second bid price in place of the first bid price, based on the accepting of the second bid, wherein the auction continues when there is a quantity of the item remaining.