Abstract: A method of hosting an auction is disclosed. The auction has, for each specified time, a current highest bid value. The method includes receiving, from a first bidder, a first bid having a first bid value. The method also includes evaluating the first bid to a) determine that the first bid value exceeds the current highest bid value of the auction by at least a first minimum increment, b) determine that the first bid value is within a first price range, and c) determine that the first bidder has placed at least one previous bid, such that the at least one previous bid caused the current highest bid value to be increased by at least a first minimum total amount. The method also includes replacing the current highest bid value with the value of the first bid received from the first bidder.

Abstract: Systems and methods for hosting an auction. The system and methods generally include an data processing system configured to receive a bid proposing a bid value from a bidder at a bid time. The system determines that the bid value exceeds a benchmark. The system notes that the bid value becomes a new benchmark and tracks a period of time during which the bid value is the benchmark. The system allots or allocates an incentive to the bidder based on the period of time. A bidder is rewarded for the time during which the bidder's bids are the best bid in the auction.