Patent ID: 8224743

Claim:
A computer readable medium having recorded thereon a plurality of instructions which direct a computer to perform a series of steps, said series of steps implementing a method for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase, the later phase comprising a package auction, the series of steps including: a) implementing the dynamic auction phase, said phase comprising: a1) receiving bids from at least one bidder, said bids including at least an indicator of at least one of the items; a2) determining whether the dynamic auction phase of the auction should continue, based on received bids; a3) outputting auction information; and a4) repeating a1)-a3) if the dynamic auction phase of the auction is determined to continue; b) changing from the dynamic auction phase to the later phase, following a determination not to continue the dynamic auction phase; and c) implementing the later phase of the auction, the later phase comprising a package auction, said later phase comprising: c1) receiving bids from at least one bidder, said bids including at least an indicator of a package of items and an associated price for the package; and c2) determining an allocation of at least one of the items to one of the bidders based on received bids.