Patent ID: 7529708

Claim:
A computer-implemented method for identifying latent demand for commodities, the method comprising: storing on a computer a plurality of accepted and unaccepted offers for commodities following an online auction, wherein the commodities were offered through bids submitted during the online auction and the accepted and unaccepted offers comprise the bids; identifying by the computer an average offer for the commodities from the accepted and unaccepted offers; dividing by the computer each average offer by a total number of items in each of the commodities; designating by the computer a quotient as an analyzed value for each of the commodities; defining by the computer an offer criteria comprising the analyzed value having a highest numerical value; identifying by the computer the accepted and unaccepted offers that satisfy the offer criteria; selecting by the computer the commodities corresponding to the identified accepted and unaccepted offers; setting by the computer prices for each of the selected commodities, wherein each of the prices comprises the average offer for the commodities from the accepted and unaccepted offers; and electronically displaying on a display the names of the selected commodities and the highest calculated prices of their accepted and unaccepted offers.