Robert R. Kieser - Plymouth MN, US Eunice F. Kieser - Plymouth MN, US
International Classification:
G06Q 30/08
US Classification:
705 263
Abstract:
A method and system for conducting an auction on the internet whereby a participant is required to establish an account for bidding on auction items that are listed for bid for a time period of one hour. All items listed on the site are displayed with a countdown timer. Items are only up for auction and open for bidding for a period of one hour commencing when the countdown timer displays sixty minutes (60 min.) remaining. A user may initiate a live auction by selecting an item that has a countdown timer displaying a time greater than one-hundred-twenty minutes (120 min.). A user may only initiate one live auction during a sixty minute period. If an auction is won, a user must pay for the item promptly or lose their bidding privileges.