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Synopsis - Online Auctioning

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					Project Name: Online Auctioning / Bidding

Problem Definition:
In the old days, people physically traveled from place to place in order to buy. The seller has
booked the hall and invites the people to participate in the bidding on a particular date and the
bidding was for only one day.

Sometime people don’t have a time to participate in the bidding due to some reasons.

To overcome this, the new system comes into existence.

Objective and Scope of the project:
The online auction business model includes one party that sells products and services, while
another party bids to purchase them.

This is strength of the online auction business model that is inherent by the fact that it is
"online." The Internet allows sellers and bidders to participate in online auctions from
anywhere in the world.

This makes them more accessible and reduces the cost of "attending" an auction. This increases
the number of listed items (i.e.: number of sellers) and the number of bids for each item (e.g.:
number of bidders). The items do not need to be shipped to a central location, reducing costs,
and reducing the seller's minimum acceptable price.

An online Auctioning/Bidding operates fairly simply.

The application allows customers to register and log in to the system.

The customers have to provide fund amount while registering.

Items can be posted on auction sites at any time of the day, and bids can be made on items any
time of the day as well. And since items are listed for usually one to 10 days, potential bidders
have a lot of time to ponder their bid.

Since online auctions allow for the potential to find a wide variety of items at lower-than-retail
prices, it draws many consumers to try their hand at getting a bargain through an online
auction. The ease of the bidding process also attracts consumers, who can bid from their
computers in the comfort of their own home.

Selling their items through online auctions also reduces their selling costs, and is also very
simple and easy to do.
Online auctions have a fixed duration and at the end of it, a person who bids the highest is
declared the winner.


Hardware/Software Requirements:-

 Processor Type          Intel Pentium III 733 MHz or Higher.

 System RAM              256MB Minimum

 Storage Device          40 GB HDD Minimum




Hardware/Software to be used:-
 Operating System        Microsoft Windows XP

 Front End               Visual studio 2005

 Back End                SQL SERVER 2005




Conclusion:-
The online auction/bidding system is one in which participants bid for products and services
over the Internet. The functionality of buying and selling in an auction format is made possible
through auction software which regulates the various processes involved.

Online auctioning/bidding results in lower overheads and higher customer satisfaction.

Help desk software helps to ensure that the clients are happy.

				
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posted:4/6/2012
language:English
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