Hi Sir
Myself Sabyasachi, project manager of Techno Exponent, I seen your requirement and understand you need a website where 2 types of users will be there, Sellers and Buyers.
Sellers: register, Log in, Post products, while posting products sellers can choose auction or fixed cost. While auction sellers need to choose auction close time and price starting for action. And for fixed cost sellers need to put the price and other terms
Website: In the website user can see the products, can search them, make filtration(city/other terms). For auction products the timer will be shown, and for normal products just price, terms will be displayed.
Buyers can make add to cart and give order for fixed cost products and for auction products they can placed their bid.
While order placed sellers will receive order, manage order and dispatch orders. After order made buyers will release the money, Admin will receive money and send it to sellers (escrow system).
For action: While auction date completed sellers will receieve notfication and then he will go to sellers Dash board section and marked as winner then winner (5max) need will receive a link to pay and with 24 hours if he fails to pay then next winner will get the link to pay. Once winner make payment and secure the place then sellers will dispatch the products.
We will make payment gateway paypal and credit card in the website,
Site will be responsive+Html5
Please come on chat so we can discuss in details.