We are going to build an English auction site. The previous e-commerce application is going to serve us with products, and an admin can create auctions using those products. Auctions have different features; we are not going to discuss each of them, but instead we are going to describe an English auction.
The most common auction is the English auction; it's a single dimensional auction, and the only thing considered is the bid price offered for the goods. Usually it's seller oriented, meaning it's one-sided.
Normally, a starting price is set for the auction; it's called the reserve price, under which the seller won't sell the goods. Each buyer makes a bid and everyone knows every bid, so it's open-cry. The winner pays the winning price.
No lower bid is called than the current winning bid. Usually, the auction ends when no one is interested in paying the latest price. Also, an end time could be set for the auction.
The end time could be an absolute time, in our case a standard...