Internet auctions

Abstract

We describe an application for auctioning goods on the Internet. A variety of commonly used auction mechanisms that are supported by the application, security requirements, and pre-Auction and post-Auction interactions needed to complete auction based trading are discussed. Then we present a software architecture and describe the various processes that comprise the auction application. Finally, we discuss how the delay, security, and easy collaboration aspects of the Internet will cause auctions on the Internet to be different than the traditional auctions.