20130332300 | Auction System and Method - An auction system and method is provided comprising an auction server, a database communicating with the auction server for storing a set of auction cards and an accounting server for creating and maintaining a set of member accounts, a set of permit tag accounts and a set of coupon accounts. The auction card comprises an auction type, a current value, a bid device, a timer device, an auction item description and a suggested retail price. The auction server executes an auction for an auction item, accepting a set of bids, decrementing a bid value from the set of member accounts, determining a winning bidder of the auction, determining a set of losing bidders of the auction. If the auction item is cash, designating a cash value in the set of member accounts. A set of redeemable coupons are distributed to the set of losing bidders. | 12-12-2013 |