Computerized auction system for houses and land, uses database on server with details of property, guide price and start data.

摘要

The intending seller (3) sends details of the property, guide price, reserve price, etc., to the server (1) via the internet (4) and a web-site (5). After the auction starts, bids from clients (2) are shown on the web-site. When a bid exceeds the unpublished reserve price, a clock starts allowing a set time for higher bids. At the end of the set period, the most recent and highest bidder gets the property.