Josh I Cohen

20030225669, Dec 4, 2003

May 31, 2002

10/160325

Josh Cohen - Valhalla NY, US

G06F017/60

705/037000

The present invention provides a method for conducting an auction in which an individual's time is monetized for bidding purposes. The inventive method generally includes the steps of providing a plurality of auction items upon which bidders may bid, and accepting bids from various bidders on the plurality of auction items. In accordance with the present invention, the bids include amounts of service hours that a bidder will work for one or more of a plurality of preselect organizations. Additionally, the bid service hours of work must be performed within a preselect period of time, e.g., one year. At the conclusion of the auction, the auction items are awarded to respective bidders that bid the highest amount of service hours for each respective auction item. The highest bidder is only presented with its respective auction item if he or she completes the amount of service hours of work he or she bids in the preselect period of time. If the highest bidder does not complete the bid service hours of work in the preselect period of time, the next highest bidder for that auction item is given the opportunity to perform their bid amount of service hours of work within a new preselect period of time, e.g., one year, in order to receive the auction item.