AUCTION NAIRA is a company registered with the Nigeria Corporate Affairs Commission and a member of the Certified Institute of Auctioneers in Nigeria with an operational license in Lagos State. AUCTION NAIRA is an e-commerce inspired auction platform that acts as an aggregator designed to peer sellers and buyers of items through an online auction process. The model (www.auctionnaira.com) offers auction users or participants the opportunity to sell or bid for products or services via the Internet. This virtual auction facilitates online activities between buyers and sellers in different locations or geographical areas. AUCTION NAIRA mirrors traditional auctions which involve multiple bidder participation. In both scenarios, bidders and sellers buy and sell items. Starting bids are low but increases at steady rates to meet market demands and item popularity. The auction time span is 14 days for items offered 24/7 but may be extended by broker’s discretion. Also, sellers have the first right to re-list items not sold within the auction time span.