1. A method for generating an auction in an internal auction system in a computer application, the method comprising: selecting, via a processor, a product from an existing product catalog based on a seller's input, wherein the product catalog is maintained by an e-commerce system of a seller's business information management system; receiving a set of product parameters from the seller's business information management system as a function of the selected product; generating default values for the auction in the internal auction system derived from an auction profile of the seller stored by the seller's business information management system; defining a set of auction parameters by the processor using an auction application, the auction application also supported by the seller's business information management system but executed separately from the e-commerce system, wherein the set of auction parameters includes parameter(s) necessary to generate the auction in the internal auction system; populating auction fields from the defined set of auction parameters; generating the auction in the internal auction system as a function of the generated default values, the received set of product parameters and the defined set of auction parameters; modifying auction parameters if desired by the seller after the creation of the auction; and adding additional products to the created auction.