Gen X Infotech provide web organizations with opportunities to exploit new channels for selling products and services. Our expertise and vast experience in the field of online retailing helps us in developing and customizing solutions that enable our clients to effectively manage their online auction portals. The online auction solutions developed by Gen X Infotech enable the creation of a global community of buyers and sellers.
With its potential to attract a large global community of sellers and buyers, online auction houses are being seen by retail and other organizations as a means to supplement and spread their area of operations. Gen X Infotech provides solutions that enable clients to create and manage virtual marketplaces wherein sellers are provided with the opportunity to offer their products and services on sale, for a specified time period, to the highest bidder. Buyers can browse through the elaborate online auction catalogues, containing detailed descriptions and images, and place their bids on selected items. Both buyers and sellers can view and track the bids made on the products. The solution provides the buyer with a platform to communicate directly with the seller, before placing the bid. When the auction period, during which the product is available for sale, has elapsed, the product is sold to the highest bidder. We ensure that the solutions offer secure online transaction processing by taking advantage of the latest Internet security standards, including 128-bit SSL encryption, as well as emerging credit card processing standards such as SET
Through our solutions, clients can offer products for auction themselves, or can serve as facilitators providing a platform wherein buyers and sellers can communicate and transact with each other.
Auction websites can be of the following types:
Reserve: In reverse auction sites, sellers can set the minimum price at which they are willing to sell their products or services. If the highest bid does not reach the minimum price, no sale takes place.
Absolute: In absolute auction websites, products or service are sold to the highest bidder and are not governed by minimum price factors.
Open: In an open auction, the bidding starts at zero and proceeds upwards by incremental bids from potential buyers. All buyers are made aware of the bids and are given an equal chance to increase it.
Closed: Same as the open auction except buyers are not made aware of bids made by other potential buyers.
Dutch: In a Dutch auction, products are initially offered at a high price, which is then gradually reduced until a bidder offers to buy it. Multiple identical products are available for sale. The first person to bid is allowed to purchase the product at the lowest price. This type of auction is useful when a business is selling a few expensive items with high demand.
The following are the auctioning features of our product:
» User registration and account verification.
» Member login, account updating, purchasing more bids and paying for won auctions features.
» Buying bid packages.
» Set bidding packages.
» Bidding in the Penny Auction format. Pay per bid and the price increment by a set amount.
» Time increment by 20 seconds (can be changed in the admin) each time a bid is placed.
» Bid butler system - the ability for users to \'book their bids\', autobid until certain price.
» An editable Terms and conditions and Help page. Additional pages can also be incorporated.
» A newsletter sign up system and sending capability.
» News section with add and update
» Send newsletters to members signed up for the newsletter.
» Possibility to change language
» Payment by Paypal and Credit cards.
» Users can receive free bids for registering, for winning their first auction and for buying bid packages for the first time.
» View, edit, add, delete and suspend users.
» Add, edit, delete and clone auctions.
» Set auctions to auto-relist.
» Refund bids for an entire auction.
» Limits on the number of auctions a user can win.
» Winning bidder can be viewed and the auction status can be updated- e.g. paid, awaiting shipping, shipped and completed.
» View users bidding history, purchased bid packages, add free bids to the user and refund bids for the user.
» View referrals from users.
» Coupons module.
» Credit system for auctions which users lose, which can be used for won auctions.
» Manage unlimited website categories via. add, edit and delete.
» Edit general website settings via. turning on and off various features.
» Add, edit and delete countries that you want to include.
» Support for highly complex passwords for all users.
» User referring system which allows user to refer friends and get a small amount of bids
» User referring system which allows user to refer friends and if the friends sign up and purchase bids they get even a larger amount of free bids
» Support multiple themes.