The emergence of e-commerce has led to the transformation of the age old concept of buying and selling, into an online platform. Today you can even avail the service of auctions through online. This has been made possible by the numerous auction software packages that allow you to build your own auction platform

Types of auction you can carry on

There are several types of auctions that these software allow you to perform. They are:

  1. Sale by auction

This is the most commonly used auction type. Here a bid is first placed in a lot and then subsequently other bidders can bid for a higher value. A bidding time can be set per auction per lot, and the bidding gets over, once the bidding time is elapsed.


  1. Sale by Dutch auction

In this type a person asks a supplier for certain goods and services. These goods and services are open to bidding. The supplier who provides the lowest bid amount asked to supply the goods and services.


  1. Bankruptcies

A number of countries enjoy the legal status to auction of bankrupted items through internet. These auctions can be private or public depending on the goods that are being auctioned.


  1. Real estate auction

Real estate auction is becoming online due to the benefits that come with it. These auction software packages allow the real estate to be auctioned in a transparent manner, making it a popular platform among the new homebuyers.


  1. Commodity auction

The commodity auctions are generally private as huge amount is involved. Only those whoa has been sanctioned by the auctioneer are allowed to bid. These software packages are equipped to process in that way. They come with reliable solutions to ensure that the right bidder gets to bid.


  1. Holiday package auction

Holiday packages are now auctioned off through online portals. And why do you think this is happening? Auction software packages have made it possible.


  1. Private auction

In this type of auction anything can be sold. The software is designed in such a way that it will only allow those people to see and bid in the auction, who are allowed to do so.