07734505 is referenced by 5 patents and cites 18 patents.

A method for automatic auction extension and user controlled standardized bid increment/decrement. The method is implemented in an electronic commerce exchange. The auction method implements automatic extension of an auction in response to bidding activity from auction participants. The method includes the step of setting an end time for concluding the auction. Bids are received from remote bidders via a distributed computer network. The received bids are analyzed to determine whether a predetermined number of bids are received within a predetermined time of the auction end time. If a greater number of bids are received within the predetermined time, the duration of the auction is automatically extended and a new auction end time is set. The auction participants are notified of the new auction end time. Standardized bid increments can be set defining a minimum amount at which a subsequent bid differs from a previous bid. Similarly, standardized bid decrements can be set defining a minimum amount at which a subsequent bid subsequent bid differs from a previous bid. A total number of possible extensions can be set defining a number of times the auction can be extended due to bidding activity. The settings can be changed dynamically during the auction by the auction operator/user.

Title
Method and system for implementing automatic auction extensions and adjustable bid increments in an electronic exchange
Application Number
9/924671
Publication Number
7734505 (B2)
Application Date
August 7, 2001
Publication Date
June 8, 2010
Inventor
Ben Gu
Foster City
CA, US
Kareem Benjamin
San Francisco
CA, US
James Wang
Fremont
CA, US
Dave Stephens
Merced
CA, US
Kim Powell
Niwot
CO, US
Kevin Miller
Granite Bay
CA, US
Agent
Townsend and Townsend and Crew
Assignee
Oracle International Corporation
CA, US
IPC
G06Q 30/00
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