What is an e-Auction?
E-AUCTIONS is an easily accessible marketplace for all making a hasslefree run even in the pandemic. It offers the space for all organizations to enter global markets irrespective of their size and of course without barriers with the support of cryptocurrencies. The online auctions are more responsive and wide, with real-time communication and instant availability of data identifying shifts in markets and opportunities. Here the buyers can easily negotiate with a number of vendors at once at the same time. This leads to massive time-savings and reduced costs for everyone.
Types of auctions
This process involves multiple sellers compete to obtain the buyer’s business and the buyer can see all the offers and may choose which would work best for their business.
It is one of the most common forms of e-auction where bids are announced by either an auctioneer or the bidders and winners pay what they bid to receive the object. It is usually user-friendly and helps to reduce transaction costs.
This form of auctions start at a higher price and goes lowered until a buyer accepts the price. Here first person who wins the auction makes him good for quick decisions and ability to win more.
In this auction, the buyer sets a high price which decreases at pre-defined amounts at particular intervals. The seller or an auctioneer will provide the goods and services at that price for some time and may alter it after a time period.
In Vickrey Reverse auctions users wishing to buy a product could indicate the maximum price that they’re ready to pay. Here the platform hides from the buyer and the least price is indicated by suppliers and then calculates best prices.
In sealed-bid auctions, a single bid is made by all bidding parties and the only highest bidder wins. Here you can’t see what suppliers have submitted until the closing the event.
Benefits of online auctioning
Much larger audience willing to take part
Easy worldwide reach
Convenience of participating in many auctions in a day
Exposure to get their desired items
Instant engagement from marketing
Longer bidding window to choose the needed
Quick and reliable transactions
Our intuitive services
Advance Auction Portal Design
Customized Auction Portal
Auction Web Application
Auction Mobile Apps Development
Ecommerce Solution for Auction Portal
Online Auction Software
Dedicated programming Team
Auction Portal revamp
User friendly solutions
End to end support
Our auction portal user roles
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We provide innovative creative and custom e-Auction portal and Web Development.
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