How it works

Auction Script

The auction script is useful for conducting online auction which allows to bid on a particular product to buy them at the best price using flexible bidding option.

 

Common Bidding Features

  1. Browse the products

The user can browse the products listed in the auction site categorically, and choose his/her product to place the bid

  1. User Account Balance

The user who participates in the bid should have the minimum balance in the account to participate in the auction

  1. Package

The users can manage their account balance by buying the amounts in packages such as Silver, Gold, and Platinum packages.

  1. Minimum Bid Increment

The amount that is placed as bid by the bidder or user will be a fixed increment amount (Ex: $ 0.5) as fixed by the Administrator

  1. Timer

The timer will be active below each product that is open for bidding. This timer determines the period of time for which the particular auctioned product will be on the live. The Administrator can set the timing option for each product.

 

Type of Bidding

  1. Beginner

The beginner option of bidding is applicable for all the New Account joiners. They can enjoy the advantage of low bids with minimum low balance in their account. This option is available only for 30 days as indicated for the particular products. If the new user wins an auction within the 30 days limit, he/she will be considered as old user with options applicable as other auctioneers.

  1. Penny Auction

The penny auction is a normal reverse bidding auction. The user has to buy packages of amount such as silver, gold, or platinum to activate the account. The user can place the bid on the selected product with fixed increment amount as defined by administrator. The auction will be conducted based on the timer that ticks. The product will be given to the user who places highest bid within the ticking time.

  1. Peak Auction

The peak auction will be live on the site only for the fixed timings (Ex: 8 to 6:30) as set by the administrator for the particular product. The auction will begin at start time and get closed at the end time. The auction will be resumed again on the start time the next day. 

  1. BuyNow

This option has been included with the auction products such that the user can buy the auction product at the product price even when he/she may lose in bidding. Any user can use the Buy Now option to avail the product similar to shopping cart.

 

Payment Process

The users can either buy the product or win an auction to own the product. The payments can be done flexible using the Paypal, credit card and other gateways as available on the site.