Auction Website 

An Auction Website is a process which is held over the internet.Online auction is great trend which is using for variety of goods and services by various users.Online auctions have effectively covered a vital virtual marketplace where you can gather to purchase, sell, trade and check out the goods of the day.It became most visited web place over the Internet and often contains and sells anything you can imagine Internet.

ENGLISH AUCTIONS:

This is an open, ascending auction where each winner pays his/her bid. Winners pay what they bid to receive the object. English auctions are claimed to be the most common form of third-party on-line auction format used and is deemed to appear the most simplistic of all the forms. The winner is the highest bidder and the price is the highest bid.

REVERSE AUCTIONS:

Buyers specify the item they wish and the highest price they are willing to pay.  Sellers bid to supply the items; as a result the price is bid down.  The winning bidder is the seller with the lowest price. More than one sellers compete to obtain the buyer's business and prices typically decrease over time as new offers are made.

DUTCH AUCTIONS:

It is a descending price auction that starts high and keeps declining as buyers post the quantity desired at a given price.  This is good for perishable items but is also used by companies in order to clear the entire stock of an item. In a Dutch auction, a seller offers up an item for bid at a high price. The initial price is much higher than the item's value usually and no seller expects to get that price for the item. Because bidders must know the amount of the bids, bids are not sealed as they are in some types of auctions. The price is lowered in increments until a bidder chooses to accept the current price. He pays that price for the item as the winner.

FIRST-PRICE SEALED-BID AUCTIONS:

In this,each bidder submits a sealed bid to the seller (that is hidden from other bidders).The main difference between this and English auctions is that bids are not openly viewable or announced as opposed to the competitive nature which is generated by public bids. There is no sequential interaction among bidders. Bidders submit the bids only once. Bidders are trading between bidding high and winning more often and bidding low and benefiting more if the bid wins.

BIDDING FREE AUCTION:

Prasad Solutions, a fastest growing pay-to-bid auction site.It is one of a number of pay-to-bid auction sites which have appeared in the last couple of years. It says in its defense that many penny auction sites are registered abroad in countries and do not deliver on what they promise.