Auction Methods and Systems
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 . In an auction method that includes receiving at least one bid from a bidder, and awarding a subject of the auction to a winning bidder, an improvement comprising: declaring a nominal end to the auction, and executing on a computer system an algorithmic function—unknowable to any bidder prior to said nominal end—to determine whether to continue the auction for a further phase beyond said nominal end.
2 . The method of claim 1 in which said function includes a pseudo-random factor.
3 . The method of claim 2 wherein said function depends on a circumstance in addition to said pseudo-random factor.
4 . The method of claim 1 wherein said determination is made at or following the nominal end of the auction.
5 . The method of claim 1 wherein only parties who bid in the auction prior to the nominal end thereof are permitted to bid during a further phase thereof.
6 . The method of claim 1 in which a further phase of the auction may be followed by a yet-further phase of the auction, depending on a circumstance.
7 . The method of claim 6 in which said circumstance has a pseudo-random aspect.
8 . The method of claim 1 in which, in a further phase of said auction, bidding continues from a bid prevailing at the nominal end of the auction.
9 . The method of claim 1 in which, in a further phase of said auction, bidding continues from a bid other than that prevailing at the nominal end of the auction.
10 . The method of claim 1 in which a further phase of the auction is started at a later time, rather than immediately following the nominal end of the auction.
11 . The method of claim 10 in which the later time is determined by reference to a process that includes a pseudo-random factor.
12 . The method of claim 1 in which a winning bidder at the nominal end of the auction is given a benefit if the auction is continued with a further phase.
13 . The method of claim 12 in which the benefit includes a discount on an otherwise applicable commission, if a winning bidder at the nominal end of the auction is also the winning bidder in the further phase of said auction.
14 . The method of claim 12 in which said winning bidder is given a benefit only if that bidder enters a bid, during a further phase of said auction, which is better than a best bid at the nominal end of the auction.
15 . The method of claim 1 that further comprises:
Also conducting a second auction otherwise similar to the first auction but not according to the method of claim 1 ; and
charging a discounted commission in the first auction relative to the second.
16 . In an auction method that includes receiving bids from bidders, and eventually awarding a subject of the auction to a winning bidder, an improvement comprising: declaring a nominal end to the auction, and conducting a second phase of said auction if a losing bidder offers consideration within a window of time following said nominal end to the auction, said window of time being assessed by a hardware apparatus.
17 . The method of claim 16 wherein said consideration comprises a cash payment, and part of said cash payment is awarded to a bidder who was winning at the nominal end of the auction.