Auction of multiple heterogeneous items among multiple buyers and sellers using software agents linked via a communication network

Abstract

A method, system and computer program product for conducting an online auction of a plurality of heterogeneous items between a plurality of selling and potential purchasing parties. The method includes the steps of accepting an offer in respect of an item, accepting one or more subsequent offers that is/are preferable to a previously accepted offer, and rejecting the previously accepted offer. While the offer/s is/are binding on a party making the offer, acceptance of the offer/s is/are not binding on a party accepting the offer. Classes of “seller strategies”, for offering items to potential purchasing parties, and “buyer strategies”, to decide which offers to accept, are also disclosed. As a result of the interaction of the buyer and seller strategies, the auction mechanism converges to an allocation of items to buyers at particular prices and assists in discovering a free and fair competitive equilibrium price.

1 - 20 . (canceled) 
     
     
         21 . A system, comprising:
 at least one processor; and   a memory storing computer executable instructions that, when executed by the at least one processor, perform a method, comprising:   receiving, from a first seller, information about an item that is to be listed for sale on an online marketplace;   generating a listing for the item;   providing the listing on the online marketplace;   receiving, from a buyer, an offer to purchase the item in the listing;   once the offer has been received, preventing the first seller from obtaining offers for the item from other buyers;   providing a notification to a second seller that the buyer has provided an offer to purchase the item in the listing, wherein the second seller has been identified as having a similar item to sell on the online marketplace;   enabling the second seller to offer the similar item to the buyer using the online marketplace;   in response to the buyer accepting the offer from the second seller, automatically rescinding, on behalf of the buyer, the offer to purchase the item from the first seller; and   releasing, in response to the rescinding, the first seller from being prevented from obtaining offers for the item from other buyers.   
     
     
         22 . The system of  claim 21 , further comprising instructions for enabling the first seller to solicit additional buyers. 
     
     
         23 . The system of  claim 21 , further comprising instructions for preventing the automatic rescinding of the offer to purchase the item from the first seller until it is confirmed that the buyer has accepted the offer from the second seller. 
     
     
         24 . The system of  claim 21 , further comprising instructions for preventing the second seller from offering the similar item to the other buyers until the buyer has accepted another offer from another seller that is selling another similar item. 
     
     
         25 . The system of  claim 21 , further comprising instructions for imposing time constraints on the buyer, the time constrains indicating an amount of time that the buyer has to provide the offer to purchase the item in the listing. 
     
     
         26 . The system of  claim 21 , further comprising instructions for imposing time constraints on the buyer, the time constrains indicating an amount of time that the buyer has to accept the offer from the second seller. 
     
     
         27 . The system of  claim 21 , further comprising instructions for preventing the buyer from being committed to more than one offer for a similar item at a same time. 
     
     
         28 . The system of  claim 21 , further comprising instructions for automatically lowering a price of the item when the first seller relists the item when the first seller has been released from being prevented from obtaining offers for the item from other buyers. 
     
     
         29 . A method, comprising:
 receiving information about an item that is to be listed for sale on an online marketplace, the item being associated with a first seller;   generating a listing for the item;   providing the listing on the online marketplace;   receiving, from a buyer, an offer to purchase the item in the listing;   once the offer has been received, preventing the first seller from obtaining additional offers for the item;   providing a notification to a second seller that an offer for the item has been received, wherein the second seller has been identified as having a similar item to sell on the online marketplace;   providing the second seller information about the offer;   enabling the second seller to offer the similar item to the buyer;   in response to the buyer accepting the offer from the second seller, automatically rescinding the offer that was made to the first seller; and   in response to the rescinding, allowing the first seller to obtain offers for the item from other buyers.   
     
     
         30 . The method of  claim 29 , wherein allowing the first seller to obtain offers for the item from other buyers comprises allowing the first seller to solicit the other buyers. 
     
     
         31 . The method of  claim 29 , further comprising requiring verification that the buyer has accepted the offer from the second seller prior to automatically rescinding the offer that was made to the second seller. 
     
     
         32 . The method of  claim 29 , further comprising preventing the second seller from offering the similar item to the other buyers until the buyer has accepted another offer from another seller that is selling another similar item. 
     
     
         33 . The method of  claim 29 , further comprising imposing time constraints on the buyer that specify an amount of time that the buyer has to provide the offer to purchase the item from the first seller. 
     
     
         34 . The method of  claim 29 , further comprising imposing time constraints on the buyer that specify an amount of time that the buyer has to accept the offer from the second seller. 
     
     
         35 . The method of  claim 29 , further comprising preventing the buyer from being committed to more than one offer for a similar item at a same time. 
     
     
         36 . The method of  claim 29 , further comprising automatically lowering a price of the item when the first seller relists the item. 
     
     
         37 . A method for selling items on an online marketplace, comprising:
 providing a notification to a seller that a buyer has submitted an offer to purchase an item for sale on the online marketplace, wherein:
 the item for sale is offered by another seller using the online marketplace; 
 the seller has listed a similar item to sell on the online marketplace; and 
 the another seller is prevented from soliciting other offers for the item; 
   enabling the seller to offer the similar item to the buyer;   in response to the buyer accepting the offer from the seller, automatically rescinding the offer that was made to the another seller; and   in response to the rescinding, allowing the another seller to solicit other offers for the item from other buyers.   
     
     
         38 . The method of  claim 37 , wherein the online marketplace enables a solicitation of one or more bids for items listed on the online marketplace. 
     
     
         39 . The method of  claim 37 , further comprising notifying the another seller that the another seller may solicit other offers for the item. 
     
     
         40 . The method of  claim 39 , further comprising automatically lowering a price of the item prior to enabling the another seller to solicit other offers for the item.