Patent ID: 7912777

Claim:
A method receiving, by a computer based system for administering an auction, a first bid on a first auction item being auctioned within an auction system, wherein the first bid is associated with a rewards account, wherein the rewards account has a rewards account balance, wherein the rewards account was registered with the auction system, and wherein the auction system manages a plurality of auctions; confirming, by the computer based system, the rewards account balance is sufficient to cover the first bid; placing, by the computer based system, the first bid for the first auction item; receiving, by the computer based system, a second bid on a second auction item being auctioned within the auction system, wherein the second bid is associated with the rewards account, placing, by the computer based system, the second bid for the second auction item; monitoring, by the computer based system, the first bid and the second bid, wherein a total bid amount of the first bid and the second bid exceed the rewards account balance; receiving, by the computer based system, an indication from the auction system that at least one of the first bid is the winning bid for the first item and the second bid is the winning bid for the second item; reducing, by the computer based system, the rewards account balance by an amount corresponding to at least one of the first bid and the second bid, in response to the indication from the auction system, wherein the account balance is not greater than at least one of the first bid and the second bid which is still pending; and canceling, by the computer based system, at least one of the first bid and the second bid, in response the receiving the indication from the auction system.