In our application, an auction is a special event in which users—or more precisely, bidders—can bid on an item available for sale. An item is a product from the e-commerce platform, but one that retains only the necessary information to be displayed to the user. Let's discuss each model in more detail.
An auction is going to hold all the necessary information about the event. As discussed earlier, we are going to implement an English auction, in which we are going to sell goods from our main e-commerce application.
An English auction is open-cry, which means that everyone is aware of each bid. The winner will pay the winning price. Each bid is going to increase the price of the goods, and the next bidder has to pay more in order to win the auction.
All auctions will have a reserved price, a starting value below which we are not going to sell our product. In other words, it is the lowest acceptable price by the seller.
To simplify things, we are going to set an end time for...