Title: Auctioning over the internet
1Auctioning over the Internet
2What is Auction?
- The word "Auction" is derived from the Latin
augeo which means "I increase". - The auction is a process of buying and selling
goods or services by offering them for bids. - Buyers compete with each other by placing the
highest bids for a product or service. - Bids with the highest value is considered as WON.
3What is Online Auction?
- Same as Traditional auctions where auction takes
place via the Internet. - Online auctions are virtual auctions provide
opportunities for people from different parts of
the world to trade their product or services
using the Internet. - Online Auction Websites are immensely popular
with high-traffic where anyone can sell product
instantly.
4- Public Auction - The participation of the general
public is very limited. - "OPEN Auction House managed manually
- Day, Venue and products of the auction are prior
announced through news media. - Had Geographical boundaries
- Had Time constraints
- Auction houses kept the records of both buyers
and sellers until the end of the settlement. - Very cumbersome and time-consuming process.
5Auctions Now - Improved Solution
- Buyers can browse through all the products and
can bid for one or more products. - Buyers who bid the highest will be considered as
the winner of the product. - Easily overcomes geographical boundaries,
location, and time constraints.
- Online Auction System which means auctioning over
the internet. - Sellers and Buyers have to register themselves on
the website. - Sellers can promote their products and can
specify start bid amount, bid end date etc.
6How to Implement
To create an online auction website you will be
having three options
- Using WordPress or Shopify Platform
- Building a Custom solution
- And a Readymade solution like Tophatter Clone.
7It basically requires three modules
8HTML for formatting of the webpage
CSS for designing the webpage
JavaScript for client-side validation
PHP for server-side scripting
MySQL for Database
Jquery for special effects
Technologies Required to Implement Online Auction
System
9- Benefits of Auction Website
- Buyer Benefits
- Buyers determine the purchase price
- The Sale is open and transparent
- Auction eliminates long negotiation periods
- Auction reduces the purchase time period
- The Purchase closing date is known
- Buyers receive comprehensive information on the
product - Extended Time at intervals.
10- Quick disposal reduces long-term carrying costs,
including taxes and maintenance - Assurance that the product will be sold at true
market value - Exposes the product to a large number of
prospects - The seller knows exactly when the product will
sell - Eliminates numerous and unscheduled products
- Takes the Seller out of the negotiation process
11- Instant Bidding status update Refreshing the
listings - Reserving the minimum bid
- Winning or losing the bid
- Proxy Bidding
- Buy Out
- Closing the Bid
12Launching an Online Auction System will give a
new approach and dimension to the auction system.
- It will encourage both Buyers and Sellers to
participate in the auction process - Removes geographical boundaries, location
constraint, and time constraint - Transparent process
- No manual work.
13- Here I have showcased the topics which revolve
around building an auction website. If you opt to
build an auction website, you may contact us with
your requirements.
14We may build you an auction website more than
your expectations.
- You can get the auction website details.,
- https//appkodes.com/auction-website-using-tophatt
er-clone/
15Thanks!
- Any questions?
- You can find me at
- _at_appkodes
- info_at_hitasoft.com