Auction methods and systems
View Patent ↗Known auction techniques are modified to provide various benefits. In one arrangement, a pseudo-random function is employed to determine whether a nominally-ended auction should be extended, allowing an unsuccessful remorseful bidder a possible further chance to win the auction. A variety of other features and arrangements are also detailed.
1. A method that involves a reserve condition against which a bid is judged in determining a winning bid in an auction, the method comprising the acts:
receiving at least one bid from a bidder during a course of the auction;
declaring a nominal end to the auction; and
determining, by a computer system, whether the reserve condition may be changed after the nominal end of the auction, by employing a function including a pseudo-random factor based on chance.
2. The method of claim 1 , wherein based on a result of said function of changing the reserve condition, the method includes changing the reserve condition to make it more onerous, and extending the auction beyond the nominal end thereof so that one or more bidders might meet said more onerous reserve condition.
3. The method of claim 1 wherein the reserve condition is established before the auction commences.
4. The method of claim 1 in which said determining comprises determining by a computer system that includes a computer-implemented pseudo-random number generator.
5. The method of claim 1 , wherein based on a result of said function of changing the reserve condition, the method includes receiving input from a party controlling the reserve condition that changes the reserve condition, and judging the at least one bid in view of the changed reserve condition.
6. The method of claim 5 wherein a bid complying with an initial reserve condition is submitted prior to the nominal end of the action, but does not comply with the changed reserve condition.
7. The method of claim 1 wherein said employing is performed after said declaring.
8. The method of claim 1 wherein said function is independent of any bidder conduct.
9. The method of claim 1 that further includes changing the reserve condition after the nominal end of the auction based on said function.