DESC:FIELD OF THE INVENTION
The present invention generally relates to auction or tenders or other methods of sales. More particularly, the invention relates to a system and a method for conducting interactive auction or tender or sales event on a service provider platform between at-least one host user and remote bidders registered with the service provider platform
BACKGROUND OF THE INVENTION
Diamond is a precious stone. It is unique material as compared to any other material or product. It is also rare and hence, it has a special value. Rough Diamonds are sold via different mediums, essentially physical mediums like physical tenders or fixed contract between B2B trade buyers-sellers, over the counter B2B sales etc. The Polished Diamonds are sold again mainly through physical mediums like in pawnshops, B2B trade offices, retail stores and auctions. However, selling of diamonds via the aforesaid mediums is labor intensive. For instance selling diamonds through a physical market place, a B2B trade place or through physical auctions or tenders is a process of buying and selling goods or services by offering them up for viewing and bids, taking bids or offers, and then selling the item to the highest bidder. Auctions involve steps of advertising in newspapers, magazines, television, etc, renting a place where the auction would be held, registering people for the auction, managing people at the auction and other related operations required for organizing the auction. The steps mentioned for organizing the auction or tender is tedious and involves a lot of manpower, thereby incurring lot of expenses and also adding up to confusion for people organizing the auction or tender. Further, diamond being a high value commodity, there are security issues involved.
Further, the physical auctions or tenders held are mostly territorial in nature. Since auctions are held in certain places for a certain property, not all people interested in the auction or tenders can participate. For example, a person residing outside India who is interested in buying a certain diamond via auction taking place in India may not have time or luxury to travel to India for taking part in the auction. Therefore, these kinds of auctions are restricted to territories.
Therefore, there is a need for a system and method for organizing an auction or tender which overcomes at least one of the above mentioned problems.
BRIEF DESCRIPTION OF THE DRAWINGS
Reference will be made to embodiments of the invention, examples of which may be illustrated in the accompanying figures. These figures are intended to be illustrative, not limiting. Although the invention is generally described in the context of these embodiments, it should be understood that it is not intended to limit the scope of the invention to these particular embodiments.
Figure 1 illustrates a system for conducting interactive auction or tender or sales event on a service provider platform between at-least one host user and remote bidders registered with the service provider platform in accordance with an embodiment of the invention.
Figure 2 illustrates a flowchart of a method of customizing an auction or a tender to be hosted on a service provider platform between at-least one host user and/or bidders registered with the service provider platform in accordance with an embodiment of the invention.
Figure 3 illustrates a flowchart of a method for hosting at-least one auction or tender event for one or more articles on a service provider platform between at-least one host user and/or bidders registered with the service provider platform in accordance with an embodiment of the invention.
SUMMARY OF THE INVENTION
The invention provides a method of customizing an auction or a tender to be hosted on a service provider platform between at-least one host user and/or bidders registered with the service provider platform. The method comprising the steps of: receiving a request at the service provider platform from one of the host users to host the auction or tender for one or more articles; receiving a first set of parameters for each article to be listed for the auction or tender; providing a second set of parameters to be set/selected by the host user for hosting the auction or tender, the second set of parameters include bidding range, number of bidders participating in the auction or tender, duration of the auction or tender, overall purchase limit for the auction or tender; allowing the host user to set/select one or more parameters from the second set of parameters; and generating the auction or tender to be hosted on the service provider platform, wherein the auction or tender is customized based upon the first set of parameters received from the host user and one or more second parameters selected by the host user.
In another aspect, the invention provides a method for hosting at-least one auction or tender event for one or more articles on a service provider platform between at-least one host user and/or bidders registered with the service provider platform. The method comprising the steps of: establishing a communication link for a predetermined time period between the at least one host user and the bidder upon receiving a request from a bidder device of the bidder for participating in the auction or tender; allowing the bidders to select at-least one article listed in the auction or tender; receiving at least one bidding parameter from the bidders, the at least one bidding parameter includes overall purchase limit of the bidder, revised bid amount; receiving at least one bid from one or more bidders for the article selected by the bidders; assigning each bidder a ranking based upon the bids from each bidder, wherein the ranking is updated on receiving updated bids from the bidders; and analyzing the received bids and providing result based upon the at least one bidding parameter and the ranking of the bidder.
In yet another aspect, the invention provides a system for conducting interactive auction or tender event on a service provider platform between at least one host user and remote bidders registered with the service provider platform. The system comprises a central server having the server provider platform accessible by at least one host user device and/or bidder device. The central server includes means for communicating with the host user devices and the bidder devices and a processor for generating at least one auction or tender event to be hosted on the service provider platform wherein the auction or tender event is created by at least one host user; the processor is configured for analyzing one or more bids received for an article listed in the auction or tender and providing result based upon at least one bidding parameter and the ranking of the bidder.

DETAILED DESCRIPTION OF THE INVENTION
Various embodiments of the invention provides a system and a method for auctioning or tendering articles such as diamonds over a secured data network between host users and remote bidders connected to the system. The system comprises a central server having a server provider platform accessible by at least one host user device and/or bidder device. The central server includes means for communicating with the host user devices and the bidder devices and a processor for generating at least one auction or tender event to be hosted on the service provider platform wherein the auction or tender event is created by at least one host user; the processor is configured for analyzing one or more bids received for an article listed in the auction or tender and providing result based upon at least one bidding parameter and the ranking of the bidder.
Referring to figure 1, a system 100 for conducting interactive auction or tender event in accordance with an embodiment of the invention is provided. As shown the system 100 includes a central server 110, at-least one host user device 120 and a bidder device 130 configured to interact with the central server 110. The central server 110 includes a service provider platform 112, a communication module 114, a processor 116, an authenticator 118 and a storage unit 119.
In accordance with an embodiment of the invention, the central server 110 includes the service provider platform 112. The host users and remote bidders registered with the service provider platform 112 can access the service provider platform 112 via the host user device 120 and the bidder device 130 respectively. The host users and remote bidders before participating in the auction or tender need to register with the service provider platform 112 by providing details such as name and age of the host user and remote bidders, email-ID’s, type of article to be hosted, type of auction or tender, etc.
In accordance with an embodiment of the invention, the host user device 120 and the bidder device 130 is configured to interact with the central server. The host user device 120 and the bidder device 130 include mobile, laptop, desktop, PDA, etc.
In accordance with an embodiment of the invention, the central server 110 includes means for communicating with the host user devices and the bidder devices. With reference to figure 1 of the present invention, the central server 110 includes the communication module 114 which facilitates the host user devices 120 and the bidder devices 130 for communicating with the service provider platform 112. In an embodiment, means for communicating with the host user devices and bidder devices include any number of wired and/or wireless networks including internet, intranet, local area networks, metropolitan networks, personal area networks, wider area networks, direct connections, etc.
Further with reference to figure 1, the central server 110 includes the processor 116. The processor 116 is configured for generating at least one auction or tender event to be hosted on the service provider platform 112 which is created by at least one host user.
The processor 116 is configured for analyzing one or more bids received for an article listed in the auction or tender. In an embodiment of the invention, the one or more bids received at the service provider platform 112 are stored in the storage unit 119. Subsequent to analyzing the one or more bids received for an article listed in the auction or tender, the processor 116 generates result based upon at least one bidding parameter and ranking of the bidder in accordance with an embodiment of the invention.
In an embodiment of the invention, at least one bidding parameter includes overall purchase limit, revised bid amount, etc as set by the bidder participating in the auction or tender. Advantageously, at least one bidding parameter set by the bidder participating in the auction facilitates the service provider platform in providing results when two or more equal bids are placed by two or more bidders.
Further, the processor 116 also generates result taking into account the ranking of the bidder. In accordance with an embodiment of the invention, the processor 116 assigns the bidder a ranking based upon at least one bid received at the service provider platform 112. Further, the ranking is periodically updated of the bidder upon receiving updated bids. Advantageously, the periodic updation of ranking of the bidders participating in the auction or tender is performed at the processor in real time, i.e. when the bidders are actively participating in the auction or tender. Therefore, the ranking provided by service provider platform 112 in real time obviates time in calculating results when the auction or tender is completed.
In accordance with an embodiment of the invention, the results generated by the processor 116 include summary of an entire event, i.e. auction or tender including information of the bids placed by each bidder, number of articles sold, number of articles withdrawn, highest and lowest bid, reserve price of the article, reserve price variance, average market bid, etc. Advantageously, results are generated in different formats such as in excel, word, graphs, etc.
In an embodiment, referring to figure 2, a method 200 of customizing an auction or a tender to be hosted on a service provider platform between at least one host user and/or bidders registered with the service provider platform is provided. The method comprising the steps of S202 of receiving a request at the service provider platform from one of the host users to host the auction or tender for one or more articles, S204 of receiving a first set of parameters for each article to be listed for the auction or tender, S206 of providing a second set of parameters to be set/selected by the host user for hosting the auction or tender, S208 of allowing the host user to set/select one or more parameters from the second set of parameters and S210 of generating the auction or tender to be hosted on the service provider platform.
In method 200, the host user and/or bidder are registered with the service provider platform by entering the registration details at the service provider platform. The registration details of the host user and the bidders include name and age of the host user and/or bidders, type of auction or tender, email ID’s, etc
In S202 of the method, a request is received at the service provider platform from one of the host users to host the auction or tender for one or more articles. The request is received from the host users who are registered with the service provider platform via a host user device. Once the request is received for hosting the auction or tender from the host user, a unique event code is assigned for identifying the auction or tender to be hosted. In S204 of the method, a first set of parameters are received at the service provider platform by the host user. The first set of parameters is details of each article to be listed in the auction or tender. The details of the each article include type of article auctioned or tendered, cost of the article, etc. For example, if diamond is auctioned, details of diamond such as type of diamond being auctioned, number of carats of the diamonds, cost of the diamond, etc are the various details of diamond to be auctioned or tendered. Once details of article to be auctioned are received from the host user, a unique article code is assigned for identifying the article listed in the auction or tender. For instance, if article diamond is auctioned or tendered, then code D is assigned to diamond.
In S206 of the method, a second set of parameters to be set/selected by the host user for hosting the auction or tender is provided by the service provider platform. The second set of parameters include bidding range, number of bidders participating in the auction or tender, duration of the auction or tender, overall purchase limit for the event, etc.
In S208 of the method, the host user is allowed to set/select one or more parameters from the second set of parameters provided by the service provider platform. Further, the host user is also allowed to set the parameters which include setting different range of values of parameters for hosting the auction or tender. For example, setting different range of values of parameters includes the host user setting the maximum number of bidders participating in the auction to 100.
In S210 of the method, the auction or tender is generated to be hosted on the service provider platform. The auction or tender is customized based upon the first set of parameters received from the host user and one or more second parameters selected by the host user.
Advantageously, in the method 200 of customizing the auction or tender to be hosted on the service provider platform can be done offline, i.e. without the usage of a communications or data network between the host user device and the service provider platform.
In an embodiment of the invention, referring to figure 3, a method 300 of hosting at-least one auction or tender event for one or more articles on a service provider platform between at-least one host user and/or bidders registered with the service provider platform is provided. The method comprising the steps of S302 of establishing a communication link for a predetermined time period between the at least one host user and bidder upon receiving a request from a device of the bidder for participating in the auction or tender, S304 of allowing the bidders to select at-least one article listed in the auction or tender, S306 of receiving at least one bidding parameter from the bidders, S308 of receiving at-least one bid from one or more bidders for the article selected by the bidders, S310 of assigning each bidder a ranking based upon the bids from each bidder, wherein the ranking is updated on receiving updated bids from the bidders and S312 of analyzing the received bids and providing result based upon the at least one bidding parameter and the ranking of the bidder.
In S302 of the method, a communication link is established for a pre-determined time period between the at least one host user and the bidder. The communication link is established after receiving a request from a bidder device of the bidder for participating in the auction or tender. The communication link between the service provider platform and the bidder device includes any number of wired and/or wireless networks including internet, intranet, local area networks, metropolitan networks, personal area networks, wider area networks, direct connections, etc.
In S304 of the method, the bidders are allowed to select at-least one article listed in the auction or tender. For instance, if there are five types of diamonds listed in the auction, the bidder is allowed to select at least one type of diamond.
In S306 of the method, bidding parameters are received from the bidders. The bidding parameters includes overall purchase limit of the bidder, revised bid amount, etc. For instance, overall purchase limit is required for deciding the result when two or more equal bids are received from two or more bidders.
In S308 of the method, at least one bid is received from one or more bidders for the article selected by the bidders at the service provider platform via a bidder device. Advantageously, the bidder device stores a copy of the bids placed at the service provider platform in its memory. Therefore each time the bids are updated by each bidder, the service provider platform only refreshes the updated bids. As a result of which, the bidder device has to send less number of requests to the service provider platform for fetching data of the particular bidder.
In S310 of the method, each bidder is assigned a ranking based upon the bids from each bidder by a processor of the service provider platform. The processor periodically updates the ranking of each bidder upon receiving updated bids. The periodic updation of ranking of bidders participating in the auction or tender is performed by the processor in real time, i.e. when bidders are actively participating in the auction or tender. The ranking provided by service provider platform in real time obviates time in calculating results when the auction or tender is completed.
In S312 of the method, the received bids are analysed by a processor of the service provider platform and results are generated based upon the bidding parameters and the ranking of the bidder. The results generated include summary of an entire event, i.e. auction or tender including information of the bids placed by each bidder, winner of each auction or tender with all the details of the article, number of articles sold, number of articles withdrawn, highest and lowest bid, reserve price of the article, reserve price variance, average market bid, bidder performance analysis, invoice details of the winners, information of all the auctions or tenders, summary information of all the articles uploaded for the particular auction or tender, etc. Advantageously, results are generated in different formats such as in excel, word, graphs, etc.
Advantageously, each bidder can participate in multiple auctions or tenders simultaneously and in real time.
In accordance with an embodiment of the invention, when the communication link is lost between the bidder device of the bidder and the service provider platform, the bid placed by the bidder during the period when the communication link is lost will be temporarily stored in the bidder device of the bidder. Further, the time at which the bid was placed will also be stored in the bidder device. Once the communication link is restored, the bid will be transmitted to the service provider platform from the bidder device with other details such as time at which the bid was placed. Advantageously, the bidder can place the bid even in offline condition, i.e. during the absence of the communication link between the bidder device of the bidder and the service provider platform.
In accordance with an embodiment of the invention, the service provider platform is a host user platform or a third party platform. The host user platform is a platform whereby the host user is hosting the auction or tender and there is no third party intervention. The third party platform is a platform whereby the third party provides a platform for one or more host users to register with the third party in order to host an auction or tender for bidders who are also registered with the third party platform.
Conducting an auction is illustrated by way of an example with reference to figure 1 to 3 of the present invention. “X” is considered as the host user and A, B, C and D are considered as the bidders.
Firstly, the host user X and each bidder A, B, C and D have to register with the service provider 112 via a host user device 120 and a bidder device 130 respectively. The registration details of the host user and the bidders include name, age, email ID’s of the host user and bidders, type of auction or tender, etc. The received registration details are authenticated and verified via the authenticator 118 and stored in the storage unit 119 of the service provider platform.
X makes a request at the service provider platform 112 to host the auction or tender for a type of diamond via a host user device 120.
The service provider platform 112 assigns a unique event code ‘1’ for identifying the auction or tender to be hosted. Further, a unique article code ‘D’ is assigned for identifying the article listed in the auction or tender.
After the request is made by X, a first set of parameters are received for each article to be listed for the auction or tender at the service provider platform 112 from X. Herein, since diamond is listed as the article to be auctioned or tendered, therefore the first set of parameters, i.e. particulars of the type of diamond listed in the auction or tender is received at the service provider platform from X.
The service provider platform provides a second set of parameters to be set/selected by X for hosting the auction or tender. The second set of parameters provided by the service provider platform in the present example include setting start time of the auction, minimum bidding range, number of bidders to participate in the auction, duration of the auction and overall purchase limit.
Following are the parameters set/selected by the host user X:
1. Start time of the auction set to 10 AM (Indian Standard time)
2. Reserved price of diamond set to 10,000USD
3. Number of bidders to participate in the auction set to 100
4. Start time of the auction set to 11.AM and end time to 5 PM.
5. Overall purchase limit set to 100,000USD
Further, X is also allowed to select format and type of results to be generated by the service provider platform.
Once the parameters are set/selected by X, the auction or tender to be hosted on the service provider platform is generated. The auction or tender is customized based upon the first set parameters received from X as well as one or more second parameters set/selected by the host user.
Advantageously, customizing the auction or tender to be hosted on the service provider platform can be done offline, i.e. without the usage of a communications or data network between the host user device and the service provider platform. The host user device stores the customized auction or tender customized in the host user device of the host user even in offline condition.
Once, the auction or tender is customized by the host user “X”, the auction or tender is hosted on the service provider platform 112.
The method of hosting the auction or tender on the service provider platform comprises the following steps:
Firstly, a communication link is established between the host user X and the bidders A, B, C and D for a pre-determined time period upon receiving a request from a bidder device of the bidder for participating in the auction or tender. Herein, a request is received from bidder devices of bidders A, B, C and D respectively.
The bidders are allowed to select one article listed in the auction or tender. Herein, the bidders A, B, C and D select diamond as the article listed in the auction or tender for which they want to bid for. Therefore, the service provider platform places A, B, C and D into one group to participate in the auction or tender which is auctioning diamond.
The bidders have to select bidding parameters for participating in the auction or tender. Herein, each bidder, i.e. A, B, C and D select the following overall purchase limits:
A sets the overall purchase limit to 10000 USD
B sets the overall purchase limit to 20000 USD
C sets the overall purchase limit to 30000 USD
D sets the overall purchase limit to 40000 USD
The overall purchase limits selected by the bidders should not exceed the overall purchase limit set by the host user X, which is 100,000 USD. The overall purchase limit is used for determining winner of the auction or tender when two or more bidders place two or more equal bids.
Once the overall purchase limit is set by each bidder as shown above, at least one bid is received from A, B, C and D. The bidders have to bid for the article diamond in real time and within the pre-determined time period set by host user X.
In certain circumstances, when the communication link is lost between the bidder device 120 of the bidder and the service provider platform 112, the bid placed by the bidder during the period when the communication link is lost will be temporarily stored in the bidder device 120 of the bidder. Further, the time at which the bid was placed will also be stored in the bidder device. Once the communication link is restored, the bid will be transmitted to the service provider platform from the bidder device with other details such as time at which the bid was placed. Advantageously, the bidder can place the bid even in offline condition, i.e. during the absence of the communication link between the bidder device of the bidder and the service provider platform.
Each bidder, i.e. A, B, C and D are assigned ranking based upon the bids placed by the bidders. The ranking of each bidder is updated in accordance with the revised/updated bids received from the bidders.
Finally, the received bids from the bidders are analyzed by a processor of the service provider platform and results are provided based upon bidding parameters selected by each bidder and the ranking of the bidder.
The results are generated in different formats as set by the host user X. The results are displayed on the host user device of the host user X as well as the bidder devices of the bidders. The results are sent to email ID’s of the bidders as well host users.
Following are the advantages of the present invention:
1. Host users allowed to set/select parameters for organizing the auction or tender, thereby the auction or tender can be customized according to the needs of the host user.
2. Bidders are allowed to bid online as well as offline.
3. Bidders can place the bid simultaneously and in real time
4. Various reports are generated by the service provider platform
5. Flexibility of changing the terms and conditions of the auction or tender by the host user
6. Host users can use this system to auction or tender diamonds
7. The system can be linked to other platforms such as social media platforms such that any news or announcements broadcasted in the system will directly be posted on these social media platforms.
8. The system is secured, thereby maintaining confidentiality of information of bidders and host users.
While the present invention has been described with respect to certain embodiments, it will be apparent to those skilled in the art that various changes and modification may be made without departing from the scope of the invention as defined in the following claims.
,CLAIMS:1. A method of customizing an auction or a tender or any other unique sales method to be hosted on a service provider platform between at-least one host user and/or bidders registered with the service provider platform, the method comprising the steps of:
receiving a request at the service provider platform from the at least one host user to host the auction or tender for one or more articles;
receiving a first set of parameters for each article to be listed for the auction or tender;
providing a second set of parameters to be set/selected by the host user for hosting the auction or tender, the second set of parameters include bidding range, number of bidders participating in the auction or tender, duration of the auction or tender, overall purchase limit;
allowing the host user to set/select one or more parameters from the second set of parameters; and
generating the auction or tender to be hosted on the service provider platform, wherein the auction or tender is customized based upon the first set of parameters received from the host user and one or more second parameters selected by the host user.

2. The method as claimed in claim 1, wherein registering the host user and/or bidder with the service provider platform includes receiving registration details from the host user and/or bidder and authenticating the registration details via an authenticator.

3. The method as claimed in claim 1 comprises the step of assigning a unique event code for identifying the auction or tender to be hosted.

4. The method as claimed in claim 1 comprises the step of assigning a unique article code for identifying the article listed in the auction or tender.

5. A method for hosting at-least one auction or tender event for one or more articles on a service provider platform between at-least one host user and/or bidders registered with the service provider platform, the method comprising the steps of:
establishing a communication link for a predetermined time period between the at least one host user and bidder upon receiving a request from a bidder device of the bidder for participating in the auction or tender;
allowing the bidders to select at-least one article listed in the at least one auction or tender;
receiving at least one bidding parameter from the bidders, the at least one bidding parameter includes overall purchase limit of the bidder, revised bid amount;
receiving at least one bid from one or more bidders for the article selected by the bidders;
assigning each bidder a ranking based upon the bids from each bidder, wherein the ranking is updated on receiving updated bids from the bidders; and
analyzing the received bids and providing result based upon the at least one bidding parameter and the ranking of the bidder.

6. The method as claimed in claim 5, wherein the step of providing result based upon the at least one bidding parameter and the ranking of the bidder includes providing performance chart of each bidder, event analysis report, etc.
7. The method as claimed in any of the preceding claims, wherein the service provider platform is a host user platform or a third party platform.

8. A system for conducting interactive auction or tender event on a service provider platform between at-least one host user and remote bidders registered with the service provider platform, the system comprising:
a central server having the service provider platform accessible by at least one host user device and/or bidder device, the central server comprising:
means for communicating with the host devices and the bidder devices; and
a processor for generating at least one auction or tender event to be hosted on the service provider platform, wherein the auction or tender is created by at least one host user, the processor configured for analyzing one or more bids received for an article listed in the auction or tender and providing result based upon at least one bidding parameter and the ranking of the bidder.

9. The system as claimed in claim 8, wherein the service provider platform is a host user platform or a third party platform.