SYSTEMS AND METHODS FOR CONDUCTING AN AUCTION

A method includes receiving, prior to a first time, a first signal indicating that a first user is initiating an auction for an item. A second signal indicating that a second user has purchased a first set of bids costing a first amount and a third signal indicating that a third user has purchased a second set of bids costing a second amount are received prior to the first time. Multiple signals indicating that the second user has used the first set of bids and that the third user has used the second set of bids in the auction for the item are received after the first time but before a second time. The item is awarded to the second user at the second time. The first user is provided with a portion of the first amount and a portion of the second amount after the second time.