An online auction system is an online auctioning system where all the buyers or auction users or participants place a competitive bid for the auctioned products or services.
With the Online Auction System add-on, admin can enable the bidding feature on the products that the admin wants to go for auction in the Magento 2 store. It is an online marketplace, where the auction participants can submit their bids online. The winner of the auction is the one who places the highest bid. Further, the product or services bills are paid through online payment.
Note: Only the customers, who are logged in can place a bid on products.
Features are as follows:
- Admin can create and manage auctions for the required products
- Admin can set up the start bidding price, start date and end date, and so on.
- Admin can track all the bid information.
- Admin can set up the incremental bidding price.
- Admin can extend the auction time.
- An automated mail is sent to the winner of the auction