Computer Implemented Continuous Dual Auction System

Abstract

A computer implemented continuous dual auction system consisting of a computer, server, and a process for creating a real-time, or substantially real-time, online marketplace for the sale of goods and services. The system allows a buyer to define parameters of one or more items that the buyer wishes to purchase and place a bid on all of the items that satisfy those parameters. The system automatically takes any fees to be paid by the buyer and the seller into account for a buyer's bid and a seller's offer. The system may be accessed via a web browser or a remote application.

1 - 16 . (canceled) 
     
     
         17 . A computer-implemented method for organizing a continuous dual-auction sale comprising:
 activating a dynamic bid group by receiving from a buyer in a computerized auction marketplace through an input interface:
 a buyer-specified filter criterion defining a class of items; and 
 a number as a bid price applicable to all items that have the buyer-specified filter criterion and, thus, fall within the class of items; 
   populating the class of items by:
 receiving detail parameters of a plurality of sale items from one or more sellers in the computerized auction marketplace through the input interface; 
 receiving a plurality of additional numbers as seller-specified offer prices for each of the plurality of sale items; and 
 using a computer processor, filtering the sale items based on a search of the detail parameters for the buyer-specified filter criterion to establish a set of filtered items and linking the first number to each item in the set thereby populating the class; and 
   continuously comparing the number to each of the plurality of additional numbers for each of the filtered items to improve competition across multiple sale categories based on buyer input, wherein, when the number is greater than or equal to one of the additional numbers for any filtered item:
 changing a status of the respective filtered item to sold; and 
 deactivating the dynamic bid group by unlinking the number from all remaining filtered items. 
   
     
     
         18 . The method of  claim 17 , further comprising populating the class of items continuously after the activation of the dynamic bid group. 
     
     
         19 . The method of  claim 17 , further comprising receiving amendments to one of the number and the plurality of additional numbers after the activation of the dynamic bid group. 
     
     
         20 . The method of  claim 17 , further comprising changing the status of the sale item to sold for only one filtered item when the number is greater than or equal to one of the additional numbers for more than one filtered item. 
     
     
         21 . The method of  claim 17 , wherein the specified filter criterion defining a class of items is linked to a range of dates for events. 
     
     
         22 . The method of  claim 17 , wherein the specified filter criterion defining a class of items is linked to a class of events with the same event type. 
     
     
         23 . The method of  claim 17 , further comprising activating a plurality of dynamic bid groups simultaneously and continuously. 
     
     
         24 . The method of  claim 23 , further comprising populating a plurality of classes of items in the respective plurality of dynamic bid groups simultaneously and continuously, wherein populating comprises linking a plurality of numbers as a bid price from their respective dynamic bid groups to a sale item. 
     
     
         25 . A non-transitory computer readable storage medium encoded with processing instructions for performing a method for organizing a continuous dual-auction sale, the method comprising:
 activating a dynamic bid group by receiving from a buyer in a computerized auction marketplace through an input interface:
 a buyer-specified filter criterion defining a class of items; and 
 a number as a bid price applicable to all items that have the buyer-specified filter criterion and, thus, fall within the class of items; 
   populating the class of items by:
 receiving detail parameters of a plurality of sale items from one or more sellers in the computerized auction marketplace through the input interface; 
 receiving a plurality of additional numbers as seller-specified offer prices for each of the plurality of sale items; and 
 using a computer processor, filtering the sale items based on a search of the detail parameters for the buyer-specified filter criterion to establish a set of filtered items and linking the first number to each item in the set thereby populating the class; and 
   continuously comparing the number to each of the plurality of additional numbers for each of the filtered items to improve competition across multiple sale categories based on buyer input, wherein, when the number is greater than or equal to one of the additional numbers for any filtered item:
 changing a status of the respective filtered item to sold; and 
 deactivating the dynamic bid group by unlinking the number from all remaining filtered items. 
   
     
     
         26 . The non-transitory computer readable storage medium of  claim 25 , further comprising populating the class of items continuously after the activation of the dynamic bid group. 
     
     
         27 . The non-transitory computer readable storage medium of  claim 25 , further comprising receiving amendments to one of the number and the plurality of additional numbers after the activation of the dynamic bid group. 
     
     
         28 . The non-transitory computer readable storage medium of  claim 25 , further comprising changing the status of the sale item to sold for only one filtered item when the number is greater than or equal to one of the additional numbers for more than one filtered item. 
     
     
         29 . The non-transitory computer readable storage medium of  claim 25 , wherein the specified filter criterion defining a class of items is linked to a range of dates for events. 
     
     
         30 . The non-transitory computer readable storage medium of  claim 25 , wherein the specified filter criterion defining a class of items is linked to a class of events with the same event type. 
     
     
         31 . The non-transitory computer readable storage medium of  claim 25 , further comprising activating a plurality of dynamic bid groups simultaneously and continuously. 
     
     
         32 . The non-transitory computer readable storage medium of  claim 31 , further comprising populating a plurality of classes of items in the respective plurality of dynamic bid groups simultaneously and continuously, wherein populating comprises linking a plurality of numbers as a bid price from their respective dynamic bid groups to a sale item. 
     
     
         33 . A computer-implemented method for conducting a marketplace configured for implementing an auction for an item over a network comprising:
 receiving from a first user device through an item input interface item information and a first number as an offer.   storing the item information and the first number in the database;   establishing an auction interface accessible over the network comprising retrieving the item information and the first number from the database and displaying the item information, the first number, and input fields relating to the item, the input fields including a bid input and a proxy bid input;   actively receiving user inputs via the auction interface, wherein actively receiving comprises:
 receiving from a second user device, a second number via the bid input and a third number via the proxy bid input; and 
 storing the second number and the third number in the database; 
   continually comparing the first number to the third when any one of the first, second and third numbers is entered and when any one of the first, second, and third numbers changes, wherein:
 if the first number is lower than the third number, executing a proxy system sale at the first number; 
   wherein executing a proxy sale comprises disabling the bid input and the proxy bid input and displaying an indication that the auction has ended.   
     
     
         34 . The method of  claim 33 , wherein executing a proxy sale further comprises closing the auction interface. 
     
     
         35 . The method of  claim 33 , further comprising associating the item information with an active auction identifier. 
     
     
         36 . The method of  claim 33 , wherein executing a proxy sale further comprises associating the item information with a completed auction identifier.