Abstract: An auction methodology wherein the auction competition among the bidders is generated by allowing each bidder to bid for non-price bid parameters (e.g., lead time, labor rate, contract length, etc.) in addition to the price of the lot on auction. Such a multi-parameter bidding provides the buyer (i.e., the auction requester) with more diverse information when selecting the winning bidder. The buyer and each bidder participating in the electronic auction may receive a real-time feedback of the bidding activity including details on bids placed for price and non-price parameters, which allows each bidder to adjust or modify one or more of its own bids (for price and non-price bid parameters) to effectively compete in the auction.

Abstract: Techniques for determining a suggested bid value that surpasses a selected bid are disclosed. A user selectable facility is provided. In response to receiving a selection event associated with the user selectable facility: (1) the value of the selected bid, which is other than the first ranked bid value, is established; (2) the suggested bid value is calculated by applying a predetermined minimum differential value to the selected bid value; and (3) the suggested bid value is conveyed to a user.

Abstract: Techniques for advancing a first bidder to a desired rank in an electronic auction are disclosed. In response to actuation of a bid rank advancement function by a first bidder, a new bid for the first bidder is calculated by applying a predetermined minimum differential value to a current bid of a second bidder that holds the desired rank in the electronic auction. The new bid is automatically submitted to the electronic auction on behalf of the first bidder.

Abstract: An auction methodology wherein individual demands are bid in lots and an aggregation of several lots is then run as an individual lot to determine if the buyer can attract a lower price offering from bidders by selecting to award the total volume of all of the individual lots to one bidder. A bidder-specific transformation factor for the aggregate lot is computed by combining selected transformed values (one for each lot) that take into account that bidder's price offerings for individual lots and the buyer-specified transformation factors for that bidder. Each bidder is then invited to bid a discount percentage for the aggregate lot. This discount percentage is then used along with the bidder-specific transformation factor to generate that bidder's transformed value for the aggregate lot. The bidder with the lowest transformed value for the aggregate lot may be selected as the winning bidder.

Abstract: Techniques for advancing a first bidder to a desired rank in an electronic auction are disclosed. In response to actuation of a bid rank advancement function by a first bidder, a new bid for the first bidder is calculated by applying a predetermined minimum differential value to a current bid of a second bidder that holds the desired rank in the electronic auction. The new bid is automatically submitted to the electronic auction on behalf of the first bidder.

Abstract: An auction is conducted by obtaining, from a buyer, information associated with a product to be purchased using an auction, where the buyer purchases the product from a winning bidder. The obtained information associated with the product is made available to at least a first bidder and a second bidder. A first bid that includes a first price and a first non-price information is received from the first bidder. A second bid that includes a second price and a second non-price information is received, from the second bidder. Non-price information is associated with (1) a description of a particular product a given bidder will provide in the event the given bidder wins the auction and/or (2) delivery of a product by the given bidder in the event the given bidder wins the auction. A first comparison value is generated based at least in part on the first price and the first non-price information. A second comparison value is generated based at least in part on the second price and the second non-price information.

Abstract: The present invention provides a method for advancing a first bidder to a selected rank in an electronic auction. This method includes calculating, in response to actuation of a bid rank advancement function, a new bid for the first bidder, and displaying the new bid to the first bidder. The new bid is calculated by applying a predetermined minimum differential value to a current bid of a second bidder that holds the rank selected by the first bidder. In one embodiment, the rank selected by the first bidder is a rank other than first. The present invention also provides a system and apparatus for advancing a first bidder to a selected rank in an electronic auction.

Abstract: A method and apparatus for automatically updating the value of a bid variable or the total bid for a multi-variable bid in an online auction is disclosed. The method includes displaying an automatically adjustable mechanism interfaced to a bidder. Thereafter, the automatic bid adjustments are calculated using the mechanism.

Abstract: Controlling overtime in an auction is disclosed. A first time interval and a second time interval are defined. A first closing time for a first lot is also defined. A first bid is received for the first lot. A second bid is received for the first lot. A correlation between the second bid and the first bid is determined. The first closing time is extended using the second time interval if the correlation between the second bid and the first bid satisfies a trigger criterion. The trigger criterion is selected from a group consisting of a rank behind market and a quantity behind market.

Abstract: Control of overtime in an auction is disclosed. A first time interval, a second time interval, and a first closing time for a first lot are defined. It is determined that at least one new bid for the first lot is received during the first time interval. The new bid is received close to the first closing time. The first closing time is extended using the second time interval if the correlation between the new bid and the at least one other bid satisfies a trigger criterion that is based on a rank of the new bid and the at least one other bid.

Abstract: A method of conducting an auction in at least two rounds is disclosed. The method includes conducting the first auction round, applying a rule to an occurrence in the first auction round, and conducting the second auction round in accordance with the application of the rule to the occurrence in the first auction round. A system for conducting an auction in at least two rounds is also disclosed. The system includes a sponsor processor, a first bidder processor communicating with the sponsor processor, and a second bidder processor communicating with the sponsor processor. In the system, the sponsor processor contains instructions which, when executed by the processor, cause the processor to conduct the first auction round, apply a rule to an occurrence in the first auction round, and conduct a second auction round in accordance with the applied rule.

Abstract: A method and system for conducting electronic auctions is described. A dynamic lot closing extension feature avoids collisions in closing times of multiple lots by dynamically extending the closing time of a subsequent lot if a preceding lot's closing time is extended to be too close to the subsequent lot's then-currently scheduled closing time. Scheduled closing times can be extended with a flexible overtime feature, in which the properties of the event triggering the extension and the duration of the overtime period(s) can be tailored to a particular auction, particular lots of products within an auction, and to the particular time within an auction process. The bidding status of a lot can be set to a “pending” status after the nominal closing time for submission of bids to allow bidders to alert the auction coordinator of technical problems in submission of bids. This allows the possibility for a lot to be return to open status for further bidding by all bidders.

Abstract: Information about a first lot and a second lot is displayed. The information includes a first closing time for the first lot, and a second closing time for the second lot. The second closing time is later than the first closing time. Responsive to the receipt of a bid for the first lot within a first predefined timer interval of the first closing time, an updated first closing time for the first lot is determined. The updated first closing time is displayed. If the updated first closing time is less than a second predefined time interval from the second closing time, an updated second closing time is displayed.

Abstract: A method and apparatus for configuring and entering bids in an auction is disclosed. The method includes displaying a bid adjustment mechanism configuration interfaced to a bidder. Thereafter, a bid adjustment value for the bid adjustment mechanism is set using the configuration interface. Following the setting step, upon actuation of the bid adjustment mechanism, a bid is adjusted by the bid adjustment value previously set using the configuration interface.

Abstract: An auction methodology wherein individual demands are bid in lots and an aggregation of several lots is then run as an individual lot to determine if the buyer can attract a lower price offering from bidders by selecting to award the total volume of all of the individual lots to one bidder. A bidder-specific transformation factor for the aggregate lot is computed by combining selected transformed values (one for each lot) that take into account that bidder's price offerings for individual lots and the buyer-specified transformation factors for that bidder. Each bidder is then invited to bid a discount percentage for the aggregate lot. This discount percentage is then used along with the bidder-specific transformation factor to generate that bidder's transformed value for the aggregate lot. The bidder with the lowest transformed value for the aggregate lot may be selected as the winning bidder.

Abstract: An auction methodology wherein the auction competition among the bidders is generated by allowing each bidder to bid for non-price bid parameters (e.g., lead time, labor rate, contract length, etc.) in addition to the price of the lot on auction. Such a multi-parameter bidding provides the buyer (i.e., the auction requester) with more diverse information when selecting the winning bidder. The buyer and each bidder participating in the electronic auction may receive a real-time feedback of the bidding activity including details on bids placed for price and non-price parameters, which allows each bidder to adjust or modify one or more of its own bids (for price and non-price bid parameters) to effectively compete in the auction.

Abstract: A method of conducting an auction in at least two rounds is disclosed. The method includes conducting the first auction round, applying a rule to an occurrence in the first auction round, and conducting the second auction round in accordance with the application of the rule to the occurrence in the first auction round. A system for conducting an auction in at least two rounds is also disclosed. The system includes a sponsor processor, a first bidder processor communicating with the sponsor processor, and a second bidder processor communicating with the sponsor processor. In the system, the sponsor processor contains instructions which, when executed by the processor, cause the processor to conduct the first auction round, apply a rule to an occurrence in the first auction round, and conduct a second auction round in accordance with the applied rule.

Abstract: A method of transforming bidding with rebates and discounts in an electronic auction using a system and machine readable medium, the method including receiving a first bid from a first bidder and a second bid from a second bidder, wherein at least one of a rebate and discount is offered with at least one of the first and second bids, assigning a first value and a first unit of measurement for the first bid and a second value and second unit of measurement for the second bid, and transforming the first and second values to third and fourth values, respectively, having a standard unit of measurement. The system has a database for receiving and storing bid information, including rebates and discounts, from at least one bidder and software for transforming bid information into values having a standard unit of measure.

Abstract: A method and system for conducting electronic auctions is described. A dynamic lot closing extension feature avoids collisions in closing times of multiple lots by dynamically extending the closing time of a subsequent lot if a preceding lot's closing time is extended to be too close to the subsequent lot's then-currently scheduled closing time. Scheduled closing times can be extended with a flexible overtime feature, in which the properties of the event triggering the extension and the duration of the overtime period(s) can be tailored to a particular auction, particular lots of products within an auction, and to the particular time within an auction process. The bidding status of a lot can be set to a “pending” status after the nominal closing time for submission of bids to allow bidders to alert the auction coordinator of technical problems in submission of bids. This allows the possibility for a lot to be return to open status for further bidding by all bidders.

Abstract: A method and system for conducting electronic auctions is described. A dynamic lot closing extension feature avoids collisions in closing times of multiple lots by dynamically extending the closing time of a subsequent lot if a preceding lot's closing time is extended to be too close to the subsequent lot's then-currently scheduled closing time. Scheduled closing times can be extended with a flexible overtime feature, in which the properties of the event triggering the extension and the duration of the overtime period(s) can be tailored to a particular auction, particular lots of products within an auction, and to the particular time within an auction process. The bidding status of a lot can be set to a “pending” status after the nominal closing time for submission of bids to allow bidders to alert the auction coordinator of technical problems in submission of bids. This allows the possibility for a lot to be return to open status for further bidding by all bidders.