Date Added: Oct 2009
An online auction is simply defined as a virtual marketplace hosted on the Internet to match buyers and sellers of goods around the globe regardless of the physical limitations of traditional auctions such as geography, presence, time, and space. Online auctions operate different protocols including English, Dutch, First-Price Sealed Bid and Vickery with different properties for each one of these protocols. Here in this system the authors implement the different auctions and also help the users to decide upon the optimal price of the product considering a specific set of parameters. The main interest would be to work on the reputation and trustworthiness of the participants in the online auctions.