Ebay, Incorporated

William J Cornell

William R Watt, Ii

Matthew F Ackley

A method, apparatus, system and non-transitory machine-readable medium are provided for declining auctions with interest bidding. According to one embodiment, offers are received from respective bidders in a bid receiving process to transact a financial instrument, the offers being expressed as offered interest rates at which the corresponding respective bidders are willing to transact the financial instrument. The bid receiving process is utilized in a declining auction characterized by a reducing a published interest rate at which the financial instrument is offered for sale. The reducing of the published interest rate is performed automatically and responsive to a lack of bidding activity. Further there is a determining whether at least one of the offers satisfies transaction criterion.

Auction with interest rate bidding

A method and system are provides for an auction with interest rate bidding. The system receives a starting interest rate and a maximum interest rate for an interest-paying (IP) item at a computer. The system publishes the IP item for sale at the starting interest rate, initiates a declining auction and receives bids in the declining auction for the IP item. The system terminates the declining auction based on a predetermined period of time and identifies one or more bids that respectively include an interest rate that is lower than the maximum interest rate. Finally, the system selects a lowest interest rate bid from the one or more bids as a winning bid.

A method, apparatus, and system are provided for declining auction with interest rate bidding. According to one embodiment, an interest rate may be set for a transacted financial instrument, and information regarding the financial instrument and an interest rate at which the financial instrument is offered are published via a computer network. Offers from respective bidders to transact the financial instrument may be received, via the computer network, being expressed as offered interest rates at which the bidders are willing to transact the financial instrument. On the termination of a bid receiving process, whether at least one of the offers satisfies transaction criteria, as defined by a seller of the financial instrument, may be determined. If it is determined that at least one of the offers satisfies the transaction criteria, then at least one of the offers may be identified as an accepted offer.

Growing community of inventors

Boston, MA, United States of America

William J Cornell