The things have become easy now for everyone to start their own online auction website with the help of the auction software. But the users should take a correct decision to develop which kind of online auction website will suit to the business. There are many software companies available in the market who provide auction software which suits to all types of auctioning. So instead of buying the auction software with some less features, try to buy the auction script from those companies who are able to provide the script with more features. Lets see the type of auction websites available in the market.
Pick-a-price auction website:
This type of auctioning is also termed as tricky tray and Chinese auction. It is mainly helpful for fund raising and also for charity. It helps the charity to gain more money through this system. Usually in this type of auctioning the bidders can buy any number of tickets. If the bidder buys more number of tickets, then they will get more chance to win the auction. The origin of this type of auctioning is still unknown.
Dutch auction:
Here in this bid the auctioneer will fix a huge price for the product or service which they are going to sell. If no one is willing to pay the huge fixed price, then the auctioneer will reduce the price of that product or service in order to make the participants to buy.
First price auction:
It is also known as sealed-bid first price auction. Here the bidders who are all interested will submit their bidding amount in the closed format to the auctioneer. None of the bidders knows the amount of their competitor, that is, how much is their bidding price. The bidding price is kept here so confidential. At last the person who has bidded more amount will be declared as a winner.
Second price auction:
It is also known as Vickery auction and more over it is also similar to first price auction. Here the highest bidder will not pay the price which they has bidded. Instead they will pay the second highest bidding amount. This type of auction is only used in the e-bay.
English auction:
The English auction is the one which is commonly used in many auction websites. Here a base price is fixed for the product and the bidders will bid a price which is more convenient to them. At last the bidder who has fixed more amount will be declared as a winner and will be handed over the product.
Pick-a-price auction website:
This type of auctioning is also termed as tricky tray and Chinese auction. It is mainly helpful for fund raising and also for charity. It helps the charity to gain more money through this system. Usually in this type of auctioning the bidders can buy any number of tickets. If the bidder buys more number of tickets, then they will get more chance to win the auction. The origin of this type of auctioning is still unknown.
Dutch auction:
Here in this bid the auctioneer will fix a huge price for the product or service which they are going to sell. If no one is willing to pay the huge fixed price, then the auctioneer will reduce the price of that product or service in order to make the participants to buy.
First price auction:
It is also known as sealed-bid first price auction. Here the bidders who are all interested will submit their bidding amount in the closed format to the auctioneer. None of the bidders knows the amount of their competitor, that is, how much is their bidding price. The bidding price is kept here so confidential. At last the person who has bidded more amount will be declared as a winner.
Second price auction:
It is also known as Vickery auction and more over it is also similar to first price auction. Here the highest bidder will not pay the price which they has bidded. Instead they will pay the second highest bidding amount. This type of auction is only used in the e-bay.
English auction:
The English auction is the one which is commonly used in many auction websites. Here a base price is fixed for the product and the bidders will bid a price which is more convenient to them. At last the bidder who has fixed more amount will be declared as a winner and will be handed over the product.