WO1998034187A1 - A method of holding an auction and uses of the method - Google Patents
A method of holding an auction and uses of the method Download PDFInfo
- Publication number
- WO1998034187A1 WO1998034187A1 PCT/DK1998/000040 DK9800040W WO9834187A1 WO 1998034187 A1 WO1998034187 A1 WO 1998034187A1 DK 9800040 W DK9800040 W DK 9800040W WO 9834187 A1 WO9834187 A1 WO 9834187A1
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- bid
- auction
- bids
- central computer
- articles
- Prior art date
Links
Classifications
-
- G—PHYSICS
- G07—CHECKING-DEVICES
- G07C—TIME OR ATTENDANCE REGISTERS; REGISTERING OR INDICATING THE WORKING OF MACHINES; GENERATING RANDOM NUMBERS; VOTING OR LOTTERY APPARATUS; ARRANGEMENTS, SYSTEMS OR APPARATUS FOR CHECKING NOT PROVIDED FOR ELSEWHERE
- G07C11/00—Arrangements, systems or apparatus for checking, e.g. the occurrence of a condition, not provided for elsewhere
Definitions
- the invention relates to a method of holding an auction of a plurality of articles in a computer environment, said auction being controlled by a central computer.
- EP 0 793 382 A2 and US Patent No. 4 789 928 disclose an auctioning concept where buyers can bid for an article from a computer in the same manner as is done at a traditional auction. Thus, only one article is put up for sale at a time, which means of course that the auctioning process may take a good deal of time if a large number of articles is to be auctioned.
- the known auctioning concepts have the drawback that individuals wanting to bid at the auction must be present at the same time, which, of course, is a drawback of an individual e.g. from Japan wants to bid via his computer at the same time as an individual residing in the United States.
- an object of the invention is to provide an auctioning form of the type mentioned in the opening paragraph which allows the auction to be conducted independently of geographical conditions. Another object is that the articles for sale need not be auctioned in a specific order.
- the object of the invention is achieved by comprising the steps of:
- step b) holding the actual auction, which is performed by the central computer which checks whether the bids stated in the bid packages prepared by the bidders in step a) , may be placed, and if yes, then placing the bid,
- Bids may hereby be placed from any geographical location, if only the period of time during which bids may be placed has been suitably selected.
- the bidders need not be physically present either in this auctioning form. The actual auction is thus conducted by means of the computer alone.
- the bid packages are prepared by means of an auction catalogue which is received from the central computer, a survey of the articles for sale may be distributed in an extremely expedient manner to a very large segment of potential buyers no matter where they are present.
- step a) is repeated for all bid packages placed or being placed.
- a first bidder has made a prioritized list of e.g. five bids, but only wants to buy two, and he e.g. places a bid for article three which is later outbid by another bidder, then the first bidder can buy a later article without breaking his purchase condition specifying max. two articles.
- the auction proceeds in the man- ner that each time a bid is placed, all bidders' purchase conditions are run through for all the articles for sale.
- the central computer checks in connection with the placing of bids that all purchase conditions for the placing of bids are fulfilled before bids are possibly placed.
- the bid packages contain a prioritized list of the order of the articles in which it is desired to place bids, the bidders may have the best conceivable distribution of the articles which they want to buy.
- the bid packages contain terms which are related to external conditions .
- a bid may be placed only if an external condition has been fulfilled, which might e.g. be that a bank is to undertake to finance the purchase before a bid is placed.
- the auction may thus proceed like a traditional auction, but with the central computer in control of the auction, as a bid placed from e.g. a saleroom will cause all the steps concerning purchase conditions to be run as if it was a pure computer auction. This will thus mean that as soon as a bid is placed from the saleroom for an article, all bid packages previously placed will be run through and checked for purchase conditions. As a consequence, changes may be made in the composition of which articles are acquired by which buyers.
- the central computer selects the bid package placed first as being the one that is to apply. This provides a "just" way of selling the articles in the event that all bid conditions are the same . To ensure that the bidder does not feel that he places too high bids for some articles, it is an advantage, as stated in claim 9, that the auctioned articles are sold to the bidder who has placed the highest bid, but at a price which is lower, e.g. the second highest bid.
- the invention also relates to uses of the method.
- fig. 1 shows a block diagram of conducting an auction in a computer environment
- fig. 2 shows a flow chart of the individual steps performed in connection with the computer auction
- fig. 3 shows the principle of the actual working method in the computer
- fig. 4 shows an additional routine in connection with the execution of the auction in the computer
- fig. 5 shows a diagram corresponding to the one in fig. 3, but now extended with a live auction
- fig. 6 shows how purchase conditions for a number of persons proceed
- fig. 7 shows an additional example of how bids may be placed.
- the numeral 1 designates a central computer, a so-called auction server, from which the auction is controlled according to the invention.
- the central computer has data connections to a plurality of sellers 2 and a plurality of bidders 3.
- the central computer 1 has a catalogue storage 5 which contains information on the articles to be auctioned. Also included are a bid packages storage 6 containing information on the possible bids of each individual bidder, a bid storage 7 for submitting bids to the central computer, and a storage 8 for storing and submitting the auction results.
- Fig. 2 shows the three phases in which the auction takes place. The three phases are separated by dashed lines in the figure.
- the numeral 10 designates that the auctioning of each article may be started in the blocks 11, 12 and 13. Moreover, between the upper two dashed lines it will be possible to prioritize a list of the articles which it is desired to buy, and to insert some purchase conditions. All this takes place during a given period of time, and when this has elapsed, the auction is closed, which is symbolized in the blocks 16, 17, 18 and 19.
- Fig. 3 shows in more detail how the actual execution of the bid packages according to fig. 2, shown by the refer- ence numeral 15, takes place.
- Each packet is input at 20, and for each package a bid is placed for the individual articles, shown at 21. It is decided at 22 whether the current article is to be auctioned. If yes, the purchase conditions are checked at 23, and if they are OK, a bid is placed. If they are not OK, no bid is placed, and the next article in the package goes through the same process. If articles upon which no bids are placed in the bid package because the purchase conditions are not fulfilled, it is decided in the block 25 whether there are more bids in the bid package, following which the same process is repeated. As soon as all the bids in the bid package have been placed and processed, feedback will take place at 26 to implement processing of the next bid package. Once all bid packages and all bids have been submitted and processed, the auction wishes will have been computer processed, which is shown symbolically at 27.
- Fig. 4 shows an example of a routine of how the execution of the auction proper proceeds.
- a bid is placed at 24a. It is checked at 28 whether it is the highest bid. If it is not the highest bid, the bid is not placed, and the process terminates at 32. If, on the other hand, it is the highest bid, it is checked at 29 whether the bid is higher than a possible minimum price. If it is not, the bid is not placed, and it is rejected and transferred for termination at 32. If the bid is higher than the minimum price, it will be stored at 30 as the highest bid, and then the process is terminated.
- fig. 5 shows an auction process which has the same elements as in fig. 3 in several respects.
- a bid for an article is placed.
- the computer places its bid. This process continues until either the computer or one of the live par- ticipants has placed the highest bid. It is noted that live participants do not know beforehand how high the computer will bid.
- live bidding for the article it is decided whether the computer bid or one of the live bids is highest, following which the auctioning of the article is completed. This means that, because of his purchase conditions, this bidder now has the possi- bility to bid for a later article and to acquire it if this bid is higher.
- fig. 6 shows three possible outcomes of the selection of three persons X, Y and Z at the reference numeral 43.
- person X has prioritized his bids such that he has selected the articles in the order C, A, B and D. It is noted that they are processed in alphabetical order in the computer, but with several runs, as explained before.
- X has placed a bid for C of DKK 20,000, and since this is the highest bid placed at the auction, he will buy the article, if no others place higher bids later.
- fig. 7, like fig. 6, shows a little more sophis- ticated list of purchase conditions, an additional column including some extra conditions being shown at 58.
- the principle in itself is the same as in fig. 6, but now includes the possibility that if the person does not succeed in buying anything, he will transfer his bids to another auction.
- the auction according to the invention may be used in many connections and with a very large number of bidders spread geographically anywhere in the world.
- Examples of uses may be holding of automobile auctions, holding of food auctions, such as fish auctions, holding of flower auctions, fur auctions, works of art auctions, and options, etc. Even uses in connection with financial transactions are conceivable.
Abstract
Description
Claims
Priority Applications (5)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
AT98900850T ATE201272T1 (en) | 1997-01-30 | 1998-01-30 | PROCEDURE FOR HOLDING AN AUCTION AND APPLICATION OF THE PROCEDURE |
DK98900850T DK1012764T3 (en) | 1997-01-30 | 1998-01-30 | Method of holding an auction, and uses of the method |
DE69800807T DE69800807T2 (en) | 1997-01-30 | 1998-01-30 | METHOD FOR HOLDING AN AUCTION AND APPLICATION OF THE METHOD |
AU56522/98A AU5652298A (en) | 1997-01-30 | 1998-01-30 | A method of holding an auction and uses of the method |
EP98900850A EP1012764B1 (en) | 1997-01-30 | 1998-01-30 | A method of holding an auction and uses of the method |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
DK010797A DK10797A (en) | 1997-01-30 | 1997-01-30 | Procedure for holding an auction, as well as uses of the method |
DK0107/97 | 1997-01-30 |
Publications (1)
Publication Number | Publication Date |
---|---|
WO1998034187A1 true WO1998034187A1 (en) | 1998-08-06 |
Family
ID=8089819
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/DK1998/000040 WO1998034187A1 (en) | 1997-01-30 | 1998-01-30 | A method of holding an auction and uses of the method |
Country Status (7)
Country | Link |
---|---|
EP (1) | EP1012764B1 (en) |
AT (1) | ATE201272T1 (en) |
AU (1) | AU5652298A (en) |
DE (1) | DE69800807T2 (en) |
DK (2) | DK10797A (en) |
ES (1) | ES2156435T3 (en) |
WO (1) | WO1998034187A1 (en) |
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FR2785696A1 (en) * | 1998-11-09 | 2000-05-12 | Thierry Hazan | OPEN ELECTION METHOD AND SYSTEM |
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-
1998
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- 1998-01-30 AT AT98900850T patent/ATE201272T1/en not_active IP Right Cessation
- 1998-01-30 DE DE69800807T patent/DE69800807T2/en not_active Expired - Fee Related
- 1998-01-30 AU AU56522/98A patent/AU5652298A/en not_active Abandoned
- 1998-01-30 ES ES98900850T patent/ES2156435T3/en not_active Expired - Lifetime
- 1998-01-30 EP EP98900850A patent/EP1012764B1/en not_active Revoked
- 1998-01-30 WO PCT/DK1998/000040 patent/WO1998034187A1/en not_active Application Discontinuation
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Also Published As
Publication number | Publication date |
---|---|
EP1012764A1 (en) | 2000-06-28 |
DE69800807D1 (en) | 2001-06-21 |
DK10797A (en) | 1997-01-30 |
ATE201272T1 (en) | 2001-06-15 |
DE69800807T2 (en) | 2001-11-08 |
EP1012764B1 (en) | 2001-05-16 |
ES2156435T3 (en) | 2001-06-16 |
DK1012764T3 (en) | 2001-08-06 |
AU5652298A (en) | 1998-08-25 |
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