METHOD AND APPARATUS FOR HOLDING A TWO-STAGE LIVE AUCTION FOR ON-SITE AND ON-LINE BIDDERS
A method and apparatus are provided for conducting a live auction that combines various features of traditional and online auctions. According to one aspect of the present invention, the live auction includes a live, in-person auction component and a real-time online bidding environment component. Bidding information associated with an item in the online bidding environment is updated to reflect a current bid associated with the item in the live, in-person auction. During the live, in-person auction, a bid is be accepted from an online bidder in the online environment that reflects the online bidder's bid price for the item. Subsequently, the system bids on behalf of the online bidder against other online bidders as well as one or more live bidders that are participating in the live, in-person. As such, the live auction enables real-time online bidding in a live, in-person auction.
1 . A computer implemented method in a live auction to allow bids by one or more remote bidders and by one or more onsite bidders, the method comprising:
using a first computer:
processing bids, from one or more onsite bidders and from one or more remote bidders, for an item being auctioned at a live auction site;
wherein the processing of bids includes choosing as a starting bid in the onsite auction a highest bid from the bids from the one or more remote bidders; and
using a second computer:
transmitting to one or more remote bidders information pertaining to the item;
receiving bids for the item from the one or more remote bidders;
selecting, from the bids received from the one or more remote bidders, the second highest bid received by the remote bidders, plus a one bid increment amount provided by the seller of the item, as a bid for the item; and
transmitting to the one or more remote bidders information regarding the acceptance and rejection of the onsite and remote bids.