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Online reset timer auto auction

[Category : - Ordering and selling methods]
[Viewed 923 times]

An online automobile auction, which allows the consumer to participate by using their home or portable computers and accessing the system via an Internet connection. Before the designated time for an auction, the consumer may access the database of available automobiles. Along with displaying visual depictions of the vehicles, the computer system affords the consumer the ability to access statistics on the current inventory of vehicles. Prior to the auction, using an automated auction feature, a plurality of bidders input their minimum starting bid, the maximum bid and the incrementing value. Bidders are also allowed to bid on vehicles during the auction process.

The auction process claims a reset timer with scheduled start times (when the timer begins countdown) providing the buyer the closest experience to a live auction that exists today. The auction process lasts on average 20 seconds, similar to that of a live auction. It allows the buyers to use their time much more efficiently saving hours in comparison to other online auto auctions because they know when to attend. In addition, the seller can group vehicles by make and model creating more excitement and draw to the listings. Both the seller and buyer win with this invention.

Patent publications:

US 7908180

Asking price:

400,000 USD

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Viewed: 923 times

Seller:

kgoclowski (United States)

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