VARIABLE QUANTITY AUCTION SYSTEM AND METHOD

摘要

The present disclosure provides systems and methods for conducting a variable quantity auction. A seller may determine a quantity range of items to be sold and a reserve price for acceptable bids. The auction may proceed in two phases. In a first phase, bidders bid on a quantity of items at a price that is at least the reserve price. In various embodiments, the first phase may be used to determine the total number of items to be sold in a second phase. In the second phase a price for the fixed quantity of items may be determined. In various embodiments, the second phase may proceed as a typical second item auction in which bidders may modify their bids until the end of the auction. The winning bidders may only pay for their items at the lowest qualifying bid.

主权项

1. A method for conducting a variable quantity auction comprising:
establishing a quantity range of items to be auctioned via a variable quantity auction, wherein the quantity range of items includes at least a maximum quantity of items; establishing a beginning and an end for the variable quantity auction; establishing a reserve value corresponding to a minimum value for which bids may be placed during at least a first phase of the variable quantity auction; receiving at least one bid from each of at least two bidders during the first phase of the variable quantity auction, wherein each bid identifies a bid quantity of items and a bid value for each item equal to at least the reserve value; and calculating a fixed quantity of items to be auctioned during a second phase of the variable quantity auction, wherein the fixed quantity is based on a sum of the bid quantities of the at least two bidders during the first phase of the variable quantity auction, and wherein the fixed quantity is no more than the maximum quantity of items.