Patent ID: 7734505

Claim:
In an electronic commerce exchange server, an auction method for implementing automatic extension of an auction in response to bidding activity from auction participants, comprising: setting with the exchange server an end time for concluding an auction, minimum bid threshold for postponing the end time for concluding the auction, and a number of extensions allowed, the minimum bid threshold representing a total number of a plurality of bids that must be received within a predetermined time of the auction end time; receiving bids from remote bidders at the exchange server via a distributed computing network; dynamically updating the minimum bid threshold with the exchange server as the auction is conducted and based on a number of bids received from the remote bidders; measuring with the exchange server a number of bids received within the predetermined time of the auction end time; in response to the measured number of bids exceeding the minimum bid threshold and a number of extensions not exceeding the maximum number of extensions allowed, extending a duration of the auction automatically with the exchange server and setting a new auction end time with the exchange server; and notifying auction participants of the new auction end time with the exchange server.