Online auction tools

Online Auction tools is application software, that can either be deployed on a desktop, on a web server or as a smart contract on a blockchain virtual machine. This software is used by customers of online auctions such as eBay.

Online Auction companies have opened up their applications to third party application developers to extend the capabilities and increase revenue. API interfaces were developed using XML which enable third party developers to build applications that use the back-end of the online auction.

This software enable tools such as:

Auction Aggregators

Tools such as that found at gaukauctions.com.[1] use powerful software that allows consumers to search all lots coming up for auction on a single website.

Auction Snipers

Auction Sniping Tools that allow consumers to place last minute bids Auction sniping is the process, in a timed online auction (such as on eBay), of placing a winning bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper. This can be done manually, or by software. The software can be designed for the purpose running on a bidder's computer, or for an online Internet sniping service, where the software agent is run from a website. Use of a service is stated to decrease the failure rate of the snipe, because the website is expected to have more reliable servers and Internet connection with lower and less variable delay in sending data (latency) enabling the bid to be placed closer to the deadline, even arriving within the last second. A bid sniper is a person who, or software agent which performs auction sniping.

Auction Listing Tools

Services that aid in listing items on auction sites like eBay.

• Vendio
• Auctiva
• 3Dsellers
• (Chung)

Auction Marketing

Services that display ads on behalf of auction sellers.

Auction Portal Software

Auction Portal Software provides the auctioneers to develop their own auction system with the tools & service provided in the system. The system now adopts the Web 2.0 compatibility and able to match with the new data structures and technologies. This will help the entrepreneurs to step in the business of E-com. Online auction system were the best among past decade with the passage of time but with the time being the ratio of frauds are increasing day by day. The item’s description given in site may note match with actual item. In this seller or buyer both may fake. Due this possibility that customer cheated by sellers and vice versa . A lot of people carried away in bidding contest that they tends to pay over the odds just to get the item that they want.

Auction as a Smart Contract

Auctions can be also conducted as smart contracts on a blockchain virtual machine.[2] Following example shows definition of a simple auction in Solidity:

pragma solidity >=0.4.22 <0.7.0;

contract SimpleAuction {
    address payable public beneficiary;
    uint public auctionEndTime;

    address public highestBidder;
    uint public highestBid;

    mapping(address => uint) pendingReturns;

    bool ended;

    event HighestBidIncreased(address bidder, uint amount);
    event AuctionEnded(address winner, uint amount);

    constructor(
        uint _biddingTime,
        address payable _beneficiary
    ) public {
        beneficiary = _beneficiary;
        auctionEndTime = now + _biddingTime;
    }

    function bid() public payable {
        require(
            now <= auctionEndTime,
            "Auction already ended."
        );

        require(
            msg.value > highestBid,
            "There already is a higher bid."
        );

        if (highestBid != 0) {
            pendingReturns[highestBidder] += highestBid;
        }
        highestBidder = msg.sender;
        highestBid = msg.value;
        emit HighestBidIncreased(msg.sender, msg.value);
    }

    function withdraw() public returns (bool) {
        uint amount = pendingReturns[msg.sender];
        if (amount > 0) {
            pendingReturns[msg.sender] = 0;

            if (!msg.sender.send(amount)) {
                pendingReturns[msg.sender] = amount;
                return false;
            }
        }
        return true;
    }

    function auctionEnd() public {
        require(now >= auctionEndTime, "Auction not yet ended.");
        require(!ended, "auctionEnd has already been called.");

        ended = true;
        emit AuctionEnded(highestBidder, highestBid);

        beneficiary.transfer(highestBid);
    }
}

Auction Listing Enhancements & Template Builders

Auction Seller Tools to make listings more attractive or easier for buyers to get information quicker. These includes listing template builders and other features.

References

1. "GAUK Auctions". Retrieved 30 April 2020.
2. "Solidity by Example — Solidity 0.5.11 documentation". solidity.readthedocs.io. Retrieved 8 July 2020.

External links

• Online Auction Research Report (1999)