Abraham Stern

US Patent:

20090125435, May 14, 2009

Filed:

Nov 13, 2008

Appl. No.:

12/270054

Inventors:

Ehud Cohen - Tel Aviv, IL
Albert J. Angel - N. Miami Beach FL, US
Tamar Kalcar - Klachim, IL
Abraham Stern - Brooklyn NY, US

International Classification:

G06Q 50/00
G06Q 40/00

US Classification:

705 37, 705 35

Abstract:

The transaction method and system facilitates sales of diamonds or stones. A searchable database of stones includes, for each stone, an offer to sell, a weight-carat, other stone characteristics and an electronic copy of a grading lab certificate which uniquely identifies each stone from all other stones in the database. A search displays, for each stone, the offer and stone weight, stone characteristics and electronic access to the stone's certificate. The system permits a prospective buyer to “buy now,” which closes the transaction at the posted offer, or “bid now” wherein the system logs a bid value and an expiry time. Other bids are posted and displayed, in a primacy order until (a) the seller “buy now at the bid” or (b) withdraws the offer or (c) replaces the offer with a subsequent offer. Preferably, offers: displayed in time sequence and bids: displayed by primacy of price and expiry.

US Patent:

20090070236, Mar 12, 2009

Filed:

Nov 13, 2008

Appl. No.:

12/270035

Inventors:

Ehud Cohen - Tel Aviv, IL
Albert J. Angel - N. Miami Beach FL, US
Tamar Katzav - Klachim, IL
Abraham Stern - Brooklyn NY, US

International Classification:

G06Q 30/00
G06Q 40/00
G06Q 90/00
G06F 17/30

US Classification:

705 27, 705 26, 705 37, 705 35

Abstract:

The transparent diamond and precious stone trading platform and method has funding and delivery transparency during the buy-order, funding, and tracking pickup, independent comparative inspection, and final delivery of each stone. The database of stones includes, for each stone, stone-weight, stone characteristics, price, and a grading lab certificate. The certificate uniquely identifies each stone and is electronically accessible by sellers, buyers, couriers, and authentication services. A buy command is communicated to seller and buyer. The transfer funds is electronically noted and communicated. The pickup by courier, interim delivery, inspection comparing the stone to the certificate, and subsequent delivery to buyer and release of funds is communicated to traders by emails, text messages, automated voice messages or IVR. Buyer and seller profiles establish communications channels and organizational managers are also permitted access and given communications. If time or place parameters are exceeded, increasing levels of alarm electronic communications are implemented.