Abstract: An electronic auction method and system are disclosed for generating off-increment proxy bids. A minimum increment is specified for bidding on an item. A bid for the item is received from a first bidder which is currently a high bid for the item. A previously recorded proxy bid is received from a second bidder which is greater than the current high bid and not greater than the high bid plus the minimum increment. An off-increment bid is generated which does not increase the bid received from the first bidder by the increment and also does not exceed the proxy bid. The off-increment bid becomes a high bid for the item utilizing the proxy bid. The second bidder thus holds a current high bid for the item.

Abstract: A network computer system and method in which a manufacturer or service provider may communicate goods or services which are available for bidding by bidders. The bids received from the bidders are intended to be sealed bids, and most often to be single instance sealed bids. The invention collects the sealed bids from the bidders and maintains them as inaccessible from the traders and online system administration staff until certain conditions, such as expiration of a bidding time window, have been met. Following the meeting of the predetermined conditions, the bids are unsealed, either by administrator command or automatically, and made available and accessible to the traders and system administration staff. The system and method prevents potential security and confidentiality problems with online sealed bid systems, and protects the integrity of the sealed bid collection process.