Real time auction with end game
View Patent ↗A real time auction system operates in a non real time mode, and an end game mode in which the users are placed in a forum. In both modes the users are capable of placing bids along with times when those bids should be executed. An agent treats the bids as secret until the time, and then at the time executes those bids.
1. A method of conducting an auction over a network, comprising:
receiving information from a server computer at a local computer, which information enables the local computer to carry out a bidding function for an item, wherein said information includes information about a bid amount which will be necessary for a user at the local computer to overcome a bid by another on an auction item, where said information is stored by said local computer and kept secret on said local computer and not shown to the user of said local computer; entering information for a new bid at the local computer;
using the local computer for making a decision to accept or reject said bid from a user at the local computer based on said information about bid amount; and only if the new bid is accepted at said local computer, sending information about the new bid from the local computer to the server computer, and otherwise not sending said new bid from the local computer to the server computer;
wherein said new bid being accepted comprises said local computer comparing a local bid to said information about bid amount without sending information to the server computer, and said local computer sending said information to said server computer only when said local bid is higher than a number set forth in said information about bid amount, and wherein said information about bid amount being hidden from said user.
2. A method as in claim 1 , wherein said information includes information about a highest bid amount which will be necessary for the user at the local computer to be a highest bidder, and wherein said accepting a bid comprises using the computer for comparing a local bid to said highest bid amount, and sending said information to said server computer only when said local bid is higher than said highest bid amount.
3. A method as in claim 1 , further comprising automatically receiving information about a new highest bid amount in said local computer and updating said highest bid amount on said local computer without showing said highest bid amount to said user.