Patent ID: 7555445

Claim:
A method for auctioning a plurality of lots, the method comprising: (a) providing an auction server; (b) recording an auction item profile for the lots in the auction server, wherein the auction item profile includes: (i) a first starting price at which the auction of a first lot will commence; (ii) a spread factor for determining a starting price for a second lot and subsequent lots; (iii) an auction price change factor; and (iv) a first reserve price, (c) initiating a first auction for the first lot, wherein the first auction begins at the first starting price, and wherein the first auction has a first current price that is initially set equal to the first starting price; (d) during the first auction, changing the first current price according to the auction price change until the first current price reaches a first reserve price or until an offer is made for the first lot, wherein the offer is made from an auction interface coupled to the auction server through a communication network; (e) after (d), initiating a second auction for a second lot, wherein the second auction has a second starting price that is determined, at least in part, by combining the spread factor and the outcome of the first auction; and (f) adjusting the current price of the second auction while the second auction is ongoing based, at least in part, on the outcome of the first auction.