Dynamically determining bid increments for online auctions
Bidding activity is analyzed over a duration in which multiple bids are received in the auction. A bid increment is dynamically determined for the auction in response to auction activity. An online auction system can utilize the bid increment to determine or suggest the next bid that can be received in the auction for purpose of supplanting the current bid.
1. A network system for presenting a dynamic auction webpage for an online auction comprising:
one or more processors; and
one or more memory resources storing instructions that, when executed by the one or more processors of the network system, cause the network system to:
communicate over a network with a user device to cause the user device to present a dynamic auction webpage that includes a bidder interface that enables a user of the user device to submit a bid on an asset associated with the dynamic auction webpage, wherein the bidder interface displays bidding parameters associated with a subsequent bid to be submitted via the bidding interface, including a current bid, a next bid, and a bid increment;
in response to detecting a predetermined condition, dynamically update the bidder interface by:
while the online auction is being conducted, determining an indicator of interest in the online auction based at least in part on activity data associated with the online auction, including a page view count maintained by the network system for the dynamic auction webpage; and
dynamically updating the bidder interface displayed on the dynamic auction webpage to reflect updated bidding parameters, including an updated bid increment that is determined based on the indicator of interest.
2. The network system of claim 1 , wherein the executed instructions further cause the network system to: (i) progress the online auction in accordance with a set of auction rules, and (ii) determine the updated bid increment based further on the set of auction rules.
3. The network system of claim 1 , wherein the predetermined condition is based on a determination of a set of auction activities.
4. The network system of claim 1 , wherein the predetermined condition corresponds to a determination that a designated duration of time has passed from when the online auction was initiated.
5. The network system of claim 1 , wherein the indicator of interest is determined each time a bid is received for the online auction.
6. The network system of claim 1 , wherein determining the indicator of interest is based further on a number of bids that are received in a given duration.
7. The network system of claim 1 , wherein the updated bid increment is further determined based on a bid velocity of bids received over a given duration.
8. The network system of claim 1 , wherein the updated bid increment is determined based further on a reserve price or desired price for the asset associated with the online auction.
9. The network system of claim 1 , wherein the updated bid increment is further determined based on a type of asset associated with the online auction.
10. The network system of claim 1 , wherein communicating over a network with the user device includes communicating with the user device that to cause the user device to render the dynamic auction webpage within an application executing on the user device.
11. A method for presenting a dynamic auction webpage for an online auction, the method being performed by a network system and comprising:
communicating over a network with a user device to cause the user device to present a dynamic auction webpage that includes a bidder interface that enables a user of the user device to submit a bid on an asset associated with the dynamic auction webpage, wherein the bidder interface displays bidding parameters associated with a subsequent bid to be submitted via the bidding interface, including a current bid, a next bid, and a bid increment;
in response to detecting a predetermined condition, dynamically determining the bidding parameters by:
while the online auction is being conducted, determining an indicator of interest in the online auction based at least in part on activity data associated with the online auction, including a page view count maintained by the network system for the dynamic auction webpage; and
dynamically updating the bidder interface displayed on the dynamic auction webpage to reflect updated bidding parameters, including an updated bid increment that is determined based on the indicator of interest.
12. The method of claim 11 , further comprising:
progressing the online auction in accordance with a set of auction rules; and
determining the updated bid increment based further on the set of auction rules.
13. The method of claim 11 , wherein the predetermined condition is based on a determination of a set of auction activities.
14. The method of claim 11 , wherein the predetermined condition corresponds to a determination that a designated duration of time has passed from when the online auction was initiated.
15. The method of claim 11 , wherein the indicator of interest is determined each time a bid is received for the online auction.
16. The method of claim 11 , wherein determining the indicator of interest is based further on a number of bids that are received in a given duration.
17. The method of claim 11 , wherein the updated bid increment is further determined based on a bid velocity of bids received over a given duration.
18. The method of claim 11 , wherein the updated bid increment is determined based further on a reserve price or desired price for the asset associated with the online auction or a type of asset associated with the online auction.
19. The method of claim 11 , wherein communicating over a network with the user device includes communicating with the user device that to cause the user device to render the dynamic auction webpage within an application executing on the user device.
20. A non-transitory computer-readable medium storing instructions that, when executed by one or more processors of a network system, cause the network system to:
communicate over a network with a user device to cause the user device to present a dynamic auction webpage for an online auction that includes a bidder interface that enables a user of the user device to submit a bid on an asset associated with the dynamic auction webpage, wherein the bidder interface displays bidding parameters associated with a subsequent bid to be submitted via the bidding interface, including a current bid, a next bid, and a bid increment;
in response to detecting a predetermined condition, dynamically update the bidder interface by:
while the online auction is being conducted, determining an indicator of interest in the online auction based at least in part on activity data associated with the online auction, including a page view count maintained by the network system for the dynamic auction webpage; and
dynamically updating the bidder interface displayed on the dynamic auction webpage to reflect updated bidding parameters, including an updated bid increment that is determined based on the indicator of interest.