14-10-2014, 03:38 PM
Abstracts: In the current era people don’t have time to go out and buy the products they are willing for in the price range they want because online sites also have fixed rates so they can’t bargain. To overcome this problem and provide convenience to the customer we planned to develop a site in which customer can also bargain online and buy the product he wishes to. The solution to this problem was “Reverse and Unique Auction System”. The Reverse and Unique Auction system is a model where we participate in a bid for products and service as per very less and low rate products rather than other products. This auction is made easier by using online software which can regulate processes involved. There are several different auction methods or types and one of the most popular methods is English auction system. This system has been designed to be highly-scalable and capable of supporting large numbers of bidders in an active auction. Reverse and Unique Auctioning System has several other names such as e-Auctions, electronic auction etc. The requirement for online auction or online bidding can be more accurately specified by the client. It should be healthy and will be a good practice when it is made more transparent as a matter of fact. Online bidding has become a standard method for procurement process. Bidders can be maintained in a single database according to the preference, and they can be monitored. User’s data can be maintained in a confidential way for validity and integrity of contractual documentation. Neat reporting reduces paperwork, postage, photocopying and time beneficial. Multiple bidders can be communicated with a great ease. This system allows multiple bids by single users. Online bidding is based upon lowest or the highest price which is initiated but not the best value for the product. Although there is a chance to fix the criteria against the fact expected to have desired value by the seller.