Solve the following problem in Java programming language.

:Various Auctions There are many types of auctions, but the basic premise in an auction is that an auctioneer wants to sell an item and they want to ask people to put forth their bids of money. Eventually the auction ends and the highest bidder wins the prize. However there are a few different variants of auctions. The English Auction: In an English auction the auctioneer starts the bidding by asking for bids, and then announces the price to the bidders and asks if anyone is willing to bid higher. If someone wants to bid they yell out their price and show a card giving their bidder identification, if it is higher than the current highest, they become the high bidder. Once the auctioneer feels everyone is done bidding then she strikes the gavel ending the auction. The bidder having yelled out the highest bid is deemed to have bought the item at that price. Example auction: https://www.youtube.com/watch?v-IN- no Sf5cE GOING... GOING... The Blind Auction: In a blind auction bidders interested in purchasing an item submit one and only one bid without knowing how much everyone else is bidding. They seal their bid into an envelope and give it to the auctioneer. Once everyone who wants to bid has submitted their bids then the auctioneer opens the envelopes and awards the item to the highest bidder and they pay the amount of their bid. If anyone submits multiple bids, only their first bid is considered. If anyone asks about the current highest bid while the auction is not yet ended the answer is 0 and the highest bidder is (empty String) since all the bids are considered only once the auction has ended. The Vickrey Auction: The Vickrey Auctions works exactly the same way as the blind auction, with one exception. In the Vickrey Auction the person bidding the highest amount is deemed to be the winner, however they are only required to pay the amount of the 2nd highest bidder for the item. There are some theories that this encourages people to bid higher since they might win an item but then pay' less for it. The Mystery Auction: The Mystery auction is a special variant of an english auction, except this time the bidders do not know what they are bidding on. Only after the auction ends and the winning bidder announced is the item revealed. If anyone asks what item is being sold, this type of auction should always answer "Mystery Item" unless the auction has ended, in that case the actual item name is :Various Auctions There are many types of auctions, but the basic premise in an auction is that an auctioneer wants to sell an item and they want to ask people to put forth their bids of money. Eventually the auction ends and the highest bidder wins the prize. However there are a few different variants of auctions. The English Auction: In an English auction the auctioneer starts the bidding by asking for bids, and then announces the price to the bidders and asks if anyone is willing to bid higher. If someone wants to bid they yell out their price and show a card giving their bidder identification, if it is higher than the current highest, they become the high bidder. Once the auctioneer feels everyone is done bidding then she strikes the gavel ending the auction. The bidder having yelled out the highest bid is deemed to have bought the item at that price. Example auction: https://www.youtube.com/watch?v-IN- no Sf5cE GOING... GOING... The Blind Auction: In a blind auction bidders interested in purchasing an item submit one and only one bid without knowing how much everyone else is bidding. They seal their bid into an envelope and give it to the auctioneer. Once everyone who wants to bid has submitted their bids then the auctioneer opens the envelopes and awards the item to the highest bidder and they pay the amount of their bid. If anyone submits multiple bids, only their first bid is considered. If anyone asks about the current highest bid while the auction is not yet ended the answer is 0 and the highest bidder is (empty String) since all the bids are considered only once the auction has ended. The Vickrey Auction: The Vickrey Auctions works exactly the same way as the blind auction, with one exception. In the Vickrey Auction the person bidding the highest amount is deemed to be the winner, however they are only required to pay the amount of the 2nd highest bidder for the item. There are some theories that this encourages people to bid higher since they might win an item but then pay' less for it. The Mystery Auction: The Mystery auction is a special variant of an english auction, except this time the bidders do not know what they are bidding on. Only after the auction ends and the winning bidder announced is the item revealed. If anyone asks what item is being sold, this type of auction should always answer "Mystery Item" unless the auction has ended, in that case the actual item name is