Invention Grant
- Patent Title: Price determination in an auction system
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Application No.: US13750079Application Date: 2013-01-25
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Publication No.: US09672562B1Publication Date: 2017-06-06
- Inventor: Vinay Vittal , Arthur Johnson , Luther Tupponce , Joseph Sorisi
- Applicant: FedBid, Inc.
- Applicant Address: US VA Vienna
- Assignee: FedBid, Inc.
- Current Assignee: FedBid, Inc.
- Current Assignee Address: US VA Vienna
- Agency: Fitzpatrick, Cella, Harper & Scinto
- Main IPC: G06Q30/06
- IPC: G06Q30/06 ; G06Q30/08 ; G06Q30/02

Abstract:
An apparatus for computing a bid price for a plurality of items includes an input portion, a processing portion, and an output portion. The input portion is adapted to electronically receive a bid for an online auction listing for a plurality of items, the bid including a limit price and an initial bid price for each of the plurality of items, and a total bid price for an entirety of the plurality of items. The processing portion is adapted to electronically compute a bid price for each of the plurality of items, such that a sum of the computed bid prices for the plurality of items is substantially equal to the total bid price. The output portion is adapted to electronically transmit the computed bid prices for the plurality of items to an online auction portion, the online auction portion accepting the bid in accordance with the computed bid prices.
Information query