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Fundamentals of Database Systems - Assignment Example

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"Fundamentals of Database Systems" paper states that An online auction mechanism is intended to be demonstrated that would attract sellers and buyers of vehicles. The system will be a reliable e-commerce system and will provide an opportunity for online sales through auctions…
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Fundamentals of Database Systems
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Download file to see previous pages All bidders will have equal opportunity to increase the bid with an equal rate i.e 100 $ for car and 50 $ for motorcycle. After ending the bidding process, the bids will be evaluated and the decision will be made accordingly. The bidder with the highest bid among all the other bidders will win the vehicle auction; however, the biding price must be greater than the base price as provided by the seller. The successful bidder will be notified by the system automatically then he has to perform a visit to the vehicle and payment will be made. In case of the failure of the auction i.e. the highest bid could not cross the minimum price of the vehicle or in case of no-bid, the system will automatically notify the seller about the situation and the vehicle information will be removed in both cases.

Such a system will allow purchasers to have a fair market survey and will provide ample vehicle selection opportunities. Due to the effectiveness of the system both the purchaser and seller would not be able to acquire undue benefits in any case. With the optimized vehicle price (as desired by the seller) the bidder will not have to pay exorbitantly.

The proposed system revolves around a business scenario in which the auction of cars and motorcycles is being held online. The domain of the system would span from the seller of the vehicles to the buyer of the vehicles to the vehicles themselves and to the payment transaction that would eventually take place. The scope of the system is limited by time restrictions that bind each vehicle permitting it to remain available for auction only for a certain period of time.

The system is proposed to act as a central place where the main happening of the vehicle auction scenario would be taking place. It would enable the sellers to register their vehicles for being auctioned out. Similarly, the interested buyers would be able to register themselves as proposed buyers if they are intending to bid for a vehicle from the vehicle auction company. ...Download file to see next pages Read More
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