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Auctioning over the internet

Online Auction must benefit both the buyers and sellers. Only this could improve the audience to your marketplace. If there arenu2019t any added benefits for the buyers and sellers in the script, it is not guaranteed to say that your website will succeed and make more in revenue generation. <br><br>https://bit.ly/2EFMCeI

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Auctioning over the internet

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  1. Auctioning over the Internet

  2. What is Auction? • The word "Auction" is derived from the Latin “augeō” 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.

  3. What 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.

  5. Auctions Now - Improved Solution • 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. • 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.

  6. How 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.

  7. It basically requires three modules • Seller • Buyer • Admin

  8. Technologies Required to Implement Online Auction System Javascript PHP MYSQL Jquery HTML – 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 Implement Online Auction System HTML CSS

  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 Seller Benefits

  11. Instant Bidding status update & Refreshing the listings • Reserving the minimum bid • Winning or losing the bid • Proxy Bidding • Buy Out • Closing the Bid Value Added Features

  12. Launching 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.

  14. We may build you an auction website more than your expectations. You can get the auction website details., https://appkodes.com/auction-website-using-tophatter-clone/

  15. Thanks! Any questions? You can find me at @appkodes info@hitasoft.com

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