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About CATALooK.Net Store

What is Auction Type 1 ? 

It’s a sale of a large number of the same product to get a better price.
The more purchase requests for an item the lower the price can be. Prices of an already ordered / requested product will be changed according to the actual ordered number of the same product.  
It has a start date and a finish date.
It has one vendor associated to it. 
It can have one or more buyers associated to it.

What is Auction Type 2 ?

It’s a public sale in which property or items of merchandise are sold to the highest bidder.
It has a start date and a finish date.
It has a starting price.
It may have a Reserve price (The Reserve Price is the lowest price this item can be sold for).
It may have a Buy It Now price (Seller pre-determined price that he is willing to sell the item before auction expiration).
It has one vendor associated to it.
The highest bid wins the auction if the bid account meets or exceeds the reserve price or there is no reserve price in a specific auction