Points Redemption Program Carried Out Via an On-Line Auction

Abstract

An incentives points-based on-line auction method is presented that is based upon an on-line system including a catalog of potential auction items and a database of participants that are eligible to take part in the auction and the participants' associated eligible points. The method includes designating a set of auction items from the catalog of potential auction items. Thereafter, participants submit bids via on-line access for the set of auction items. The auction facilities initially prompt a participant to logon to gain access to the auction. Authorized, logged on participants are then provided access to a database describing the auction items and current bid information. A participant may bid upon an auction item. In response, to receiving a bid from a participant, the auction facilities determine whether the participant has sufficient points in a point bank to submit the bid. Proper new high bids are registered by the auction facilities. At the close of a period for an auction, the auction facilities notify the high bidders of their successful bids for particular auction items.

What is claimed is: 
     
         1 . A method for administering an on-line auction, comprising the steps of:
 designating at least one auction item for an on-line auction;   providing on-line bid access to said at least one auction item by at least one authorized participant;   receiving, via an on-line computer interface, at least one respective incentive points bid by said at least one authorized participant for the auction item;   determining that each respective incentive points bid made by a respective authorized participant does not exceed an incentive points total available to that respective authorized participant;   maintaining at least a respective high incentive points bid for each respective auction item; and   identifying, upon ending an auction period for a said auction item, one said authorized participant who submitted a highest incentive points bid for that auction item.   
     
     
         2 . A method as claimed in  claim 1 , wherein:
 the designating step designates a plurality of auction items for an on-line auction;   the providing step provides on-line bid access to each of said auction items by at least one authorized participant;   the receiving step receives, via an on-line computer interface, at least one respective incentive points bid by said at least one authorized participant for at least one of the auction items;   the determining step determines that each respective incentive points bid made by a respective authorized participant does not exceed an incentive points total available to that respective authorized participant;   the maintaining step maintains at least a respective high incentive points bid for each respective auction item; and   the identifying step identifies, upon ending a respective auction period for each respective said auction item, a respective one of said authorized participants who submitted a respective highest incentive points bid for each of the respective auction items.   
     
     
         3 . A method as claimed in  claim 1 , further comprising the steps of:
 notifying an authorized participant bidding on a said auction item when a new high incentive points bid for that auction item exceeds the respective available incentive point value total for that authorized participant; and   enabling that notified authorized participant to obtain, through purchase, additional incentive points in accordance with a currency-to-points ratio.