Online Auction

Topics: Auction, EBay, Auctioneering Pages: 5 (1483 words) Published: May 18, 2012

1.1 Background of the Study
Internet auctions appeared on the scene in the mid 1990s, and quickly became one of the most successful applications of electronic commerce. EBay, the premier consumer-to-consumer (C2C) Internet auction site, is generally held up as an exemplar for the industry. However, it is widely predicted that the potential transaction volume in business-to-business (B2B) auctions will be much greater than in the C2C channel (Keenan, 2000; Rosenthal, 2002).

In the B2B marketplace, auctions were initially pressed into service as tools to dispense with excess inventory. The current wave of B2B integration represents a much deeper integration of auction technology into the daily operations of many businesses. In particular, companies are using auctions in many procurement situations in an effort to extract better prices from their suppliers. Auction systems are a major component of the electronic marketplace that allow users at any site to sell and buy products. The sellers set up auctions for their products while the purchaser who bids the highest amount wins the right to purchase the product in an auction.

Auction systems have three distinct sets of users: the bidders, the auction initiator, and the auction system administrator. Each class of users requires different core and complementary features of an auction system. Note that we do not treat sellers and buyers separately; in the general case they are both bidders and have the same needs. On most consumer-to-consumer sites, the seller is the auction initiator, and places his one and only bid, to establish the reserve price, during the creation of the auction, if at all. The auction system administrator is the person (or group of people) who installs, configures, and maintains the auction site.

1.2 Statement of the Problem
The problem with public auction is that the participation of the general public is very limited. The proponents design this system in such a way that it is as user friendly as possible so any aspiring bidder or seller can visit the site and engage in bidding with least effort.

1.3 Objectives of the Study

1.4.1 General Objective
This paper aims to develop a user-friendly auctioning website where any kind of product can be auctioned and provide value-added services to the bidders and the sellers. The website provides a safe environment for online users by authenticating all the products.

1.4.2 Specific Objectives
The proponents aim to:
1. Understand the user requirements of an online auction system. 2. Create an online auctioning system that has an easy mode of payment for customers and sellers.

1.4 Significance of the Study
The contribution made by this paper will be the use of an established Object Oriented methodology in the analysis and modeling of the relatively new domain or field of e-Commerce, more specifically, online auctions. Such a contribution of creating component-based commerce models becomes very useful for those who aspires to create their own online auctioning system in the future. 1.5 Scope and Limitation

This system is only limited to those people that have Internet access and have a Paypal Account. For security reasons, the proponents would like to impose the inclusion of a government issued ID in their user registration for the website.

Chapter 2 – Theoretical Framework and Review of Related Studies 2.1 Theoretical/Conceptual Framework

2.1.1 User Interface
Home Page - The site opens up door to aspiring web users through the Home page. The Home page is designed in such way that the layout is as user friendly as possible. There is a navigational menu at the top of the page which links to various inner pages. There is a category drop down on the left side for easy manipulation. The center area is for displaying latest products in the chorological order. Login/User Registration - Those who wish to take...
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