Invention Grant
- Patent Title: Computer technology for automated pricing guidance
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Application No.: US16912401Application Date: 2020-06-25
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Publication No.: US11694218B2Publication Date: 2023-07-04
- Inventor: Byong Mok Oh , Takuma Yamaguchi , Rishabh Kumar Shrivastava , Fritz Mikio Kuribayashi , John Alexander Lagerling , Minami Tanaka
- Applicant: Mercari, Inc.
- Applicant Address: US CA Palo Alto
- Assignee: MERCARI, INC.
- Current Assignee: MERCARI, INC.
- Current Assignee Address: US CA Palo Alto
- Agency: Sterne, Kessler, Goldstein & Fox, P.L.L.C.
- Main IPC: G06Q30/02
- IPC: G06Q30/02 ; G06Q30/06 ; G06Q30/0201 ; G06Q30/0601 ; G06N3/08 ; G06N3/04

Abstract:
Disclosed herein are embodiments for automated intelligent price guidance of listings for a for sale object (FSO) being offered by a seller. Some embodiments may operate by: receiving information relating to the FSO, including specifications for selling the FSO, wherein the specifications include an original offer price and a time window for selling the FSO; determining a category of the FSO; generating an optimal offer price for the FSO based on one or more of: (a) past listings of previously sold FSOs that have a same or similar category of the FSO; (b) the specifications, including the time window; (c) a category decay curve applicable to the category; and (d) seller flexibility curve of the seller; and through the use of a machine learning neural networking analysis suggesting the optimal offer price to the seller as an offer price for a listing corresponding to the FSO, wherein this price is evaluated over time and suggestions are made accordingly.
Public/Granted literature
- US20210406937A1 COMPUTER TECHNOLOGY FOR AUTOMATED PRICING GUIDANCE Public/Granted day:2021-12-30
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