ABSTRACT

Auctions are among the oldest economic institutions in place. They have been used since antiquity to sell a wide variety of goods, and their basic form has remained unchanged. In this dissertation, we explore the efficiency of common auctions when values are interdependent- the value to a particular bidder may depend on information available only to others-and asymmetric. In this setting, it is well known that sealed-bid auctions do not achieve efficient allocations in general since they do not allow the information held by different bidders to be shared.

            Secure Net Auction System website which is used to bid from the comfort of ones own home has seen a change like never seen before. This is done through JAVA technologies. This has various technical areas. It includes WINDOWS XP as the operating System, Oracle as Database. The front end deals with GUI and source code deals with Oracle (Backend).

            With the point and click of the mouse, one may bid on an item they may need or just want, and in moments they find that either they are the top bidder or someone else wants it more, and you’re outbid!  , while meeting the needs of its users.

The opportunity to shop from the comfort of ones own home has seen a change like never seen before.  Within the span of a few short years, what may have began as an experimental idea has grown to an immensely popular hobby, and in some cases, a means of livelihood, the online auction gathers tremendous response every day, all day.  With the point and click of the mouse, one may bid on an item they may need or just want, and in moments they find that either they are the top bidder or someone else wants it more, and you’re outbid!  The excitement of an auction all from the comfort of home.

With this opportunity to buy sight unseen also comes the opportunity to be scammed sight unseen as well.  There are over 30 million ‘hits’ each month on the online auction sites, and that is opportunity waiting to be taken for those with the criminal intent of defrauding others.

However with a little care and caution, one can have a positive experience doing business on an online auction, and each party can leave satisfied with their ‘deal’, whether they are the buyer, the seller, or the conveyance that brought it all together.

Features of the proposed system:

• User friendly.
• User can get the Timely Information from the database with out any delay regarding the query.
• This reduces the delay of response given to the Customer.
• User can generate reports very easily.

Advantages of the proposed system:

• The proposed system is automated that is faster than the existing manually maintained system and can handle data easily.
• Computerization of the details of the buyers and sellers.
• Maintenance time and cost are greatly reduced.
• Accurate information can be generated easily and quickly at different levels.
• Report can be generated easily and quickly.

SOFTWARE REQUIREMENTS:
• Web Technologies : HTML, CSS, JS. JSP
• Programming Language : Java
• Database Connectivity : JDBC
• Backend Database : MySQL
• Operating System : Windows 08/10
HARDWARE REQUIREMENTS:
• Pentium processor : Core I3
• RAM Capacity : 2GB
• Hard Disk : 250GB
• Monitor : 15’’ Color Monitor