AUCTION METHOD USING THE INTERNET

• Main Author: KIM, DONG KYUNG
• Format: Patent
• Language: English; Korean
• Published: 11.07.2001
• Edition: 7

PURPOSE: An auction method using the Internet is provided to enable a participant at an auction to determine whether to tender a bid for an article for sale at auction by opening all course of the auction to the public through the Internet, and by providing moving pictures on the article. CONSTITUTION: An auction dealer selects and registers articles for sale at auction(200). The prices for the articles for sale at auction are calculated(210). A contract with a seller is performed(220). Moving pictures on the articles are manufactured and opened to the public on a web page(230). The entry fee and the number of participants are determined(240). Members connect to an auction management server and confirm the articles(250). Applicants make out written application(260). It is judged whether the number of participant who participates in the auction reaches that of participant determined(270). The application is completed(280). An application confirmation mail is respectively transmitted to the participants(290). The participants pay the price(300). The auction is performed in real time(310). A participant who tenders a bid at the highest amount of money is determined as a successful bidder(330). A formal contract with the successful bidder is concluded(340). The auction is terminated(350).