Option 1: Secure On-line Auction System
Online auction is a different business model where the items are sold through price bidding. Usually bidding have start price and ending time. Potential buyers in auction and the winner is the one who bids the item for highest price. For buying product online, user has to provide his personal details like email address, license number etc. The detail requirements include: System will provide login and registration to users. Administrator can manage the website but can’t participate the auction. Only authorized and verified customer can participate in auction. Authenticate legitimate sellers can sell product online by providing product’s description/image, by setting up start price / ending time, the system will automatically update the current highest bid price and remaining bid time. The sellers can check the real-time bid situation of his product online. Authenticate legitimate buyers can bid the product and can buy the product online very efficiently and securely with the help of this system. Fraud customer or seller gets detect in early stages and measure to prevent it. The products for auction does not need any physical location. The bidder can participate in auction from anywhere at any time through online auction.