E-Auction-A Web Based Electronic Auctioning System

Abstract

E-auction is a web-based electronic auctioning system that enables users to participate in auctions online. The system provides a plat- form for sellers to post their products for auction and for buyers to bid on them. The e-auction system is designed to be user-friendly and easily accessible, with features that allow for secure transactions and real-time bidding .The e-auction system provides several features for both buyers and sellers. For sellers, the system allows them to create auction listings with product descriptions, images, and starting bids. They can also set reserve prices, which are the minimum prices at which they are willing to sell their products. Sellers can monitor the progress of their auctions and accept or reject bids as they come in. The e-auction system also includes security features to protect against fraud and unauthorized access. The sys- tem uses SSL encryption to secure all communications between the client and server, and user authentication is required for access to the system. The system also logs all transactions and provides audit trails for monitoring and investigation purposes. In conclusion, the e-auction system is a powerful tool for buyers and sellers alike, providing a secure and user-friendly platform for online auctions. Its features and capabilities make it an ideal solution for businesses and individuals looking to buy or sell products online.

Introduction

I. INTRODUCTION

In In modern business as well as other aspects of modern life, computers and the Internet have found great applications especially because of the way in which computers and the Internet are capable of conserving business resources. With the aid of the Internet, businesses are now capable of reaching a global market for their goods and services.

This way, billions of people are able to participate in auction sales through a website of an auction company running any auctions. This way, people place their bids on the website, watch the bids others are placing on the website for the particular product they are interested in and eventually make purchase of the product if he/she is the person who remains the highest bidder over a selected period of time. Preston et al (1987).

E-Auction is a web-based electronic auctioning system that enables buyers and sellers to participate in online auctions. The system is built using a client-server architecture, with the server hosting the application and the database. The application is written in JAVA programming language and uses MySQL as the database management system. The system provides several features for both buyers and sellers, including real-time bidding capabilities, the ability to set reserve prices and maximum bids, and the option to monitor auction progress. The system also includes security features to protect against fraud and unauthorized access, such as SSL encryption and user authentication. E-Auction is a user-friendly and secure platform for businesses and individuals looking to buy or sell products online.

Placing auction sales within websites on the Internet is an excellent way to generate huge profits from sales because all the advantages of the use of the internet are derived with very little or no disadvantages at all. This way, any item on sale on the auction website can be visible to a worldwide market and higher interests for the item can be reached when people with more value for the items are able to find it.

A system as this will not only save the company organizing the auction sales a lot of financial resources but will afford them a lot of convenience, privacy and security for the buyers of the products available on the auction sales website.

The magnitude of the advantages derived from auction sales online are so numerous that organizations these days are gradually making all of their auction sales online rather than the old fashioned auction house sales.

II. OBJECTIVE

The Primary objective of this study is to create a web based electronic auctioning system for the procurement of cars (automobiles) in Nigeria.

1. To create a cost effective way to get rid of and acquire cars/ automobiles (fairly used or brand new) in Nigeria.
2. To fulfil the satisfaction of helping individuals buy cars (automobiles) at truely perceived value/ price.
3. To open up the procurement of cars to a wider market allowing buyers, suppliers make bids without being restricted by geographical location.
4. To create an efficient, open and transparent system and clear audit trail of transaction in Nigeria.
5. Greater insight of buyers into the dynamics of the market place and an indication of the true market price/ value for goods and services.
6. Suppliers can of course use e-Auction to arrive at market prices for their own purchases of raw materials and components in Nigeria.

III. LITERATURE REVIEW

V. ACKNOWLEDGMENT

We felt great pleasure in submitting this paper on E-AUCTION. A huge thank you to Prof. S.P. Gunjal, for your supreme support, guidance, and patience. We would like to express our sincere gratitude and appreciation to all our colleagues who have helped us in one way or another in the writing of this research paper.

Conclusion

In conclusion, the E-Auction web-based electronic auctioning system is a powerful tool that can revolutionize the way auctions are conducted. It offers numerous advantages over traditional auctions, including increased efficiency, improved transparency, enhanced accessibility, lower costs, increased security, better analytics, and greater convenience. The development of the E-Auction system was motivated by the need to create a more efficient and transparent auctioning process that can be accessed from anywhere in the world. The system was designed to be user-friendly, with a simple interface that allows participants to bid on items easily and quickly. The E-Auction system has various applications in different industries, including government auctions, agricultural auctions, real estate auctions, art auctions, charity auctions, automotive auctions, wholesale auctions, and consumer goods auctions .Overall, the E-Auction web-based electronic auctioning system is an innovative solution that can provide significant benefits to both buyers and sellers. With the continued development of technology, it is likely that more organizations and industries will adopt this system in the future, making it an essential tool for conducting auctions.

References

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Copyright

Copyright © 2024 Prof. S.P. Gunjal, Anuradha Birajdar, Avinash Phalke, Nikhil Raskar, Toufik Gouri. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.