Realtor Martin Eldridge, for instance, got $1 million for a location-based application that combines GPS-like data with information services. If you walk by a painting rapidly in a museum, for example, you might just get the name of the painter sent to your cell phone. If you pause, it might forward you the date it was painted and other details.

He came up with the idea while driving down Highway 1 in California.


Taking bids by phone. Many bidders call in their bids by phone to maintain secrecy. Phone buyers, however, will also have observers in the room.
(Credit: Ocean Tomo)
"I wanted to know what I was driving by," he said, elated and sipping champagne. He wrote Google, Garmin, Microsoft (all of whom have extensive patent portfolios that the rigorously defend) and several other companies about licensing. None responded. The auction gave him a way to make some money off of it.