SYSTEM AND METHOD FOR STRUCTURING AN ONLINE AUCTION WHEN RESERVE PRICE IS NOT MET

摘要

A system and method for structuring an online auction when a reserve price is not met are described. In an online auction, bidding activity is analyzed over a duration to determine whether there are multiple active bidders for the auction and whether the reserve price for the auction is met after a designated period of time. In response to making that determination, the bidder interface for a sole active bidder on the auction can be automatically updated to include a notification that the bid has not met the reserve price and an option to place a new bid on the item so that the auction is successful and does not end with no bids meeting the reserve.

主权项

1. A method for structuring an online auction, the method being implemented by one or more processors and comprising:
providing a forum for conducting the online auction, the forum including a bidder interface that enables bidding on an item being auctioned when the auction is in progress; making a reserve determination that a reserve price for the online auction is not met after a designated period of time; and in response to making the reserve determination, automatically updating the bidder interface for a bidder who has placed a bid on the item, the updated bidder interface including at least an indication that the bid has not met the reserve price and an option to place a new bid on the item.