US 5,803,500 · Granted 1998-09-08

Method and kit for conducting an auction

A method and kit for conducting a silent or live auction or some combination thereof. The method includes identifying each potential bidder, auction item, and potential sales prices with a unique identification code that is machine readable using optical or electronic means. The codes are most preferably bar codes that may be read using a standard retail industry scanner. The codes are printed on adhesive labels for use by the bidders in placing bids on auction items. A bid may be placed on an item by affixing the appropriate labels to a bid sheet. Bid sheets may be prepared with item codes and descriptions.

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