Method of prebidding in a combined auction format

摘要

A system and method for the online placement of prebids in respect of an auction lot in advance of a live auction. Upon commencement of the live physical or online auction of an auction lot, the winning prebid which was accepted according to the system and method of the present invention will be submitted to the live auction. A Web site system is used to accept the details of prebids, and various methods or formulae for calculating the winning prebid are disclosed.