Ceylon Tea is renowned as the finest quality teas in the world. Colombo tea auction, which was functioned as the single origin traditional system is the main marketing platform for Ceylon tea. Due to the COVID-19 pandemic the industry was encouraged with the conversion of conventional tea auction into the virtual E- auction. Hence, this study aimed to assess stakeholders' satisfaction with this transformation and its pros and cons effects. A stratified sampling technique was used to collect 75 stakeholders who are directly and indirectly connected with the E-auction. A pretested survey instrument validated by applying a reliability test was administrated to collect data on perceived ease of use, usefulness, usability, socio-economic factors, and industry-related factors. The SWOT analysis was also undertaken on the gathered data to identify how best E-Auctioning process was matched with today’s context of tea market. The ordinal logistic regression test results reveal that the degree of stakeholders’ satisfaction with the transformation process varied in the range of high, moderate, and low, with values of 45.3%, 49.3%, and 5.3%, respectively. The overall model was significant at the 0.05 significant level and its results exhibited that stakeholder satisfaction was positively correlated with experience, age, perceived ease of use, and usefulness, whilst it was negatively correlated with education level, usability, and stakeholder type. The SWOT analysis results revealed that the newly implemented E-auction has many strengths and opportunities such as   the ability to log in at any given time, maintaining high transparency, timesaving, reduction of operational cost, and real-time updating dashboard and some weakness and threats such as poor interaction among buyers and sellers, not fully automated current system, not a good system for people who have low IT literacy compared to conventional tea auction, mental tidiness among system operators etc.. Hence, this study confirms that there are both positive and negative effects of the newly implemented E-auction over a traditional auction and require user friendly simplified and more navigated IT related interventions to elevate more efficient and effective E-auction system with the technological advancement of the ICT sector.