Penny auction software is an application software that can be deployed as a stand-alone software for commercial and/or charity live and silent auctions, that handles all aspects of conducting an auction. This software provides users with the ability to register bidders, clerk (record) sales, and cash out bidders. In addition to these key functions, auction software provides many supporting capabilities including auction cataloging, inventory control, and consignor reconciliation. Some auction software is utilized exclusively in vertical markets such as automotive.
In more recent years "auction software" has come to include software on a Web server for online auctions. This software provides the ability for users to post items for sale in an auction format as well as the ability to bid on those items. The most well known purveyor of online auction software is possibly Ebay, Inc. out of San Jose, California. Ebay was the first company to popularize the notion of conducting an auction over the Internet. The auction software that eBay uses is proprietary and not available to the general public.
In 1995, Virginia inventor Thomas Woolston was awarded key US Patents for a series of inventions introducing the online auction marketplace. In 2000, after eBay contacted Woolston and his company, MercExchange LLC, to buy the patent portfolio, the auction giant balked. Woolston and his partners sued and won a 2003 guilty verdict in a Virginia federal court; the jury awarded $25 million in damages. MercExchange pressed to have eBay shutter infringing operations, but eBay appealed the ruling all the way to the Supreme Court of the United States. The highest court ruled in 2006 that an injunction eBay’s operations was not required nor automatic, but that the Virginia judge had the discretion to enter the injunction. In late 2006, the case was returned to the Virginia court for an injunction and settlement negotiations between the two parties began in January 2007. In July 2007, the U.S. District Count assigned the case denied the motion for a permanent patent injunction against eBay. Judge Jerome Friedman stayed further proceedings on an additional eCommerce related patent until the U.S Patent and Trademark office has time to reexamine the validity of the patent granted to MercExchange. Judge Friedman publicly stated that MercExchange "has utilized its patents as a sword to extract money rather than as a shield to protect its right to exclude or its market-share, reputations, goodwill, or name recognition, as MercExchange appears to possess none of these."
Currently a search on the internet can provide you with a plethora of auction possibilities, from traditional auction sites, to more recently the penny auction – on-line auction experience. These penny auctions take place internationally as well as regionally with the premise that the auction ends when time runs out.
Penny Auction Software Designers in these areas continue to evolve their products in an ever changing industry, offering an unlimited range of services and advice to their prospective clients and customers. Choosing the right penny auction software provider is not a simple task. There are many penny auction software companies available and they all offer different results at different prices.
We belive in the frugality and resourcefulness of our customers (well, the good ones anyway), so ask questions before you finalize your shopping. Although we know that we are among the best of the best, we also belive in the democracy and freedom to exchange information.