Bidding and auction management system application covers features of selling products through online based on bidding process.
Before an auction:
Bid increment amount – Rs. 20
Lets say the starting price is Re.1
Current highest bid is Rs. 21
Now in order to bid: -You can bid at anywhere above or equal to the current highest bid amount for your bid to be accepted, i.e. you can bid at anywhere between Rs. 21 to Rs. 41 (or more) for your bid to be accepted. -This means that you can bid at say Rs. 23 and the next current minimum bid will get adjusted to Rs. 43 (since the Bid Increment level is set to 20).
If you wish to place a higher bid, you may do so. For eg. – You can place a bid of Rs. 45. This would incorporate the current bid at Rs. 21 and the minimum bid increment of Rs. 20. The remaining Rs. 4 is the additional amount you have bid. Therefore the user who bids after you would have to bid at least Rs. 65 (Rs. 45 of your bid and Rs. 20 of the bid increment)
The amount of the next minimum acceptable bid will be displayed in the “Bid Amount per item” text box.
To find more information about the product the description of that product has to be referred. A description of every item is put up on the item page. To know more about the item and its features, you can make use of the “Ask the seller or Read Q&A” facility provided on every item page. This way you can acquire more information about the item. If it is convenient for you and the seller, you can also arrange to personally inspect the item.
After an Auction:
At the end of every auction, you would receive an email (if your bid is the highest at that point of time) with your seller’s contact details. You would then need to contact your seller to arrange for the delivery and complete the deal offline.
A bidder can know about the item he/she won in an auction once the auction of an item you have bid on has ended. You will receive an auto-generated email if your bid was the highest and the reserve price (if any) had been met. The mail will include item details and the seller’s contact details. The seller too will receive an email providing them with your contact details. You will need to contact your seller to inspect the goods and arrange delivery and payment.
Once the auction is ended, both the seller and the buyer are notified through email and given each other’s contact details. They need to contact each other and work out payment as per the terms of payment mentioned by the seller on the item page.
The transaction between the buyer and the seller can be carried out manually if the buyer and seller are in a reachable distance. In other case the transaction is carried out over the net via E-commerce Secured transaction systems.
Download Bidding and Auction Management System Project source code in java with project report.