Patent ID: 6947906

Claim:
A tiered method for automatically auctioning an asset over a computer network comprising a plurality of computers in communication with one another, the asset comprising government surplus or excess, the tiered method comprising the steps of: (a) storing in computer memory buyer information for a plurality of potential buyers, the buyer information for each of the plurality of potential buyers including a buyer profile code; (b) retrieving from computer memory asset information for the asset to be auctioned, the asset information including a first asset restriction; (c) retrieving from computer memory the buyer profile codes from the plurality of potential buyers; (d) comparing the first asset restriction with the buyer profile codes and determining a first group of authorized bidders from the potential buyers having a buyer profile code matching the first asset restriction; (e) notifying only the first group of authorized bidders of the asset for auction; (f) conducting a first tier auction, the first tier auction comprising: (1) presenting the asset for auction only to the first group of authorized bidders; (2) receiving bids from the first group of authorized bidders; and (3) concluding the first tier auction at least upon expiration of a first specified time period; (g) automatically performing a second tier auction if an outcome of the first tier auction is that the asset remains available, performing the second tier auction comprising the additional steps of: (1) assigning a second asset restriction to the asset, (2) retrieving from computer memory the buyer profile codes from the plurality of potential buyers; (3) comparing the second asset restriction with the buyer profile codes and determining a second group of authorized bidders from the potential buyers having a buyer profile code matching the second asset restriction; (4) presenting the asset for auction only to the second group of authorized bidders; and (5) receiving bids from the second group of authorized bidders and concluding the second tier auction at least upon expiration of a second specified time period.