Items Auction through online System

Abstract / Introduction
Nowadays, online trade of goods (items) by companies and organizations is a trend. In the same way many individuals are willing to sell and purchase items through online platforms. We need to develop an online application for an entrepreneur (individual) which will provide online facility for common users to sell and purchase their items. The application allows the sellers to register his/her item (s) for selling with complete description (properties/attributes) along with intended/initial price. The entrepreneur (Admin) may change the price of items as per their market values (if needed). The admin will further open the items for auction for a period of three to seven days (or even for a variable period) and will also incur his commission of three to five percent. The Buyer can auction for any open item(s) and the item will be sold to the buyer (user) who has maximum bid/offer for the item during the opening period.

Functional Requirements:
A set of functional requirements of the proposed system may include the following.

1. The users (seller and buyers) must be able to register themselves.
2. The users are able to edit/update their profiles.
3. There must be a login process for users/Admin to access the application.
4. The users (Sellers) must be able to register items for sale/auction
5. The users (Buyers) must be able to bid for any open item (s)
6. The Admin must be able to open the registered items for auction
7. The Admin must have interface to decide the buyer of an item as per the maximum bid.
8. The application enables the admins to generate various reports like, list of register users (Seller and Buyers separately), list of items sold/auctioned within a week, month or any period etc.

Note: Make sure that the above list is a sample of functional requirements; students do not need to be limited with these only. Students are supposed to think (or visit the problem domain) and implement some other functional requirements not mentioned in above list.