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Title of the project : Development of an Online Auctioning Shop for a campus/organization
Objective/Vision:
The Objective is to develop a user-friendly auctioning site where any kind of product can be auctioned and provide value-added services to the bidders and the sellers. The products will be authenticated and the site provides a safe environment for online users.
Definition:
Online auctions operate on the same principles as the real auctions, but they have the mass appeal, which reaches out to the ordinary Internet users. They are an easy and fun way to buy a product of your choice.
Abstract of the project:
This project aims at creating an Online Auctioning system which can be used to buy and sell articles. The users of the system can create an Item for sale providing the itemname, description, an image of the item, minimum bid prize etc. The buyers can bid by providing a bid amount (which should be greater than the previous bid).
The system will have an administration module to administer the categories of the Shop as well as to block fraudulent users. The administrator will set up the Categories of the items. A category is a logical subdivision of Category of similar products (eg: Furniture, Electronic Accessories, Books) Admin should be able to Create Categories, Merge Category etc. There will be a Search by which users can search for items up for sale.
1)Problem Statement
The problem with public auction is that the participation of the general public is very limited. The aim of the project is to socialize the auction so that people from far & wide and even across the continent can participate in it. The “ebid” site is developed with a vision to wipe out the inherent problems of “Conventional Auction House”.
2)Problem Approach:
As in real auctions the highest bidder wins the bid, but because the online bids take a long time to close, you have the advantage to checking if your bid has been surpassed and put a higher price on it again. The sites predetermine the increment that you can put on an existing bid. This ensures that the prices are not driven up and more people can stay in the bidding game.
There are a few simple rules that you can follow to get the best out of an auction deal:
1. Dont stick to a single site- keep looking for better bids on the countless sites on the net.
2. Always bid on the auctions that will not stay open for a long period of time. Longer bids will automatically get more hits, thus minimizing your chances of staying ahead on it. Bids with shorter time limit, for example one that ends in a week is better.
3. Most of the items displayed on the site for auction could be misspelled, which means that not many would have got to that item and placed any bids. Always try to search for these items because the price would always be low on them.
4. Dont bid a higher price than what you want to pay for a product, just because you dont want to lose out on it. Remember that there are other sites, which will most probably have the item you want to buy.