Top 7 Auction Apps [Business Model & Development Steps of Bidding Apps]
The sales value of the auction market amounted to around $27 billion in 2022 (Statista) Bidding apps have played an immense role in accelerating the auction business.
Buying and selling real and personal property have never been so easy before auction apps. They have changed the traditional auction process for both auctioneers and buyers
Anyone from anywhere worldwide can participate in the auction with the help of auction apps.
This thriving business model attracted many stakeholders to create bidding apps. A custom app development company can build an app according to your business needs. This blog presents the top 7 bidding apps that you can use easily. You will also get to know how an auction app makes money and how to build one.
What Is a Bidding App/Auction App?
A bidding app is also known as an auction app. You can organize everything from collecting auction items to selling them with the help of an auction app.
Sellers list items and services on the bidding apps, and then you can bid on them.
The highest bidder at the end of the auction wins the right to purchase the item or service at the final bid price.
Bidding apps are also effective for silent auction fundraisers, and Bid Beacon is an example of this type of app.
You can hire an Auction app development company if you also want to run this business online. For this, you must know how a bidding app works.
How Does a Typical Bidding App Work?
There are many best auction apps for Android and iOS. But they all work in a particular way.
Here is how a typical auction app works:
- Listing Items
- Bidding Process
- Time Limit
- Winning Bidder
- Payment and Delivery
People from many countries use bidding apps. However, the popularity of these apps is at its highest in some countries.
Distribution of public auction sales in 2022
Top 7 Auction Apps for Best Deals in 2023
There are many auction apps, but some popular apps are known for offering great deals and a wide range of products.
- eBay
- DealDash
- CataWiki
- Sotheby’s
- AuctionZip
- Manheim
- LiveAuctioneers
Have a look at all the auction apps below to know more about them.
-
eBay
is an online marketplace that enables businesses to buy and sell items ranging from electronics to fashion, and home appliances. Users can trade and bid for the items and services.
eBay is a peer-to-peer platform that allows individuals to sell items directly. Moreover, businesses can set up online stores on eBay.
It also has interactive features like Buyers’ and Sellers’ ratings. So that you can work with reliable people.
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4.7
Ratings -
10Cr+
Downloads
-
Pros-
- Reach a vast audience
- Sell anything
- Gain new customers
Cons-
- Seller fees
- Rules and policy restrictions
- High competition
-
DealDash
Users can bid on various products. It has a unique system that separates the app from others. The participants have to pay a small fee to place bids on items.
The price of the items increases from the very first bid. The increment begins the auction countdown timer slightly.
Deaddash offers products like electronics, home goods, fashion items, and more. Many times the prices are lower than the retail value. Now all participants win so it leads to increased cost.
-
4.2
Ratings -
10Cr+
Downloads
-
Pros-
- Potential for deals
- Variety of products
- Buy It Now option
Cons-
- High competition
- Risk of losing money
- Time-consuming
-
CataWiki
You can buy and sell special items and collectibles on Catawiki. An ample number of products in various categories product more options for bidders to choose their items.
Find the perfect buyers for your items and services on the CataWiki app. It conducts 600+ auctions across 80+ countries every week.
A wide range of categories including art, antiques, classic cars, jewelry watches, stamps, comics, and more provide customers with extensive choices.
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4.1
Ratings -
10Cr+
Downloads
-
Pros-
- Unique items
- International reach
- Easy listing process
Cons-
- Potential scams
- Shipping costs
- Limited auction categories
-
Sotheby’s
is one of the oldest and most prestigious auction houses. It is popularly known for fine arts, jewelry, collectibles, and antiques. Most of the events on this prestigious platform are attended by a lot of people.
Collectors, investors, enthusiasts, and wealthy individuals around the globe use Sotheby’s for rare deals. It is known for handling high-profile sales of significant artwork.
These artworks often reach multimillion-dollar prices. The app has extended its reach to online auctions and private sales incredibly. It also offers art advisory services.
-
4.3
Ratings -
10Cr+
Downloads
-
Pros-
- High-value items
- Prestige and reputation
- Private sales
Cons-
- Seller fees
- Buyer risks
- Limited accessibility
-
AuctionZip
is an app to facilitate live and online auctions. It is a feature-rich platform for individuals interested in participating in auctions. You can go for physical auction houses or virtual bidding with the help of the AuctionZip app.
You can know about upcoming auctions across various categories like vehicles, collectibles, antiques, and art. People from different locations in the world can bid in real time. Before bidding you can view photos of items for auction.
-
4.2
Ratings -
10Cr+
Downloads
-
Pros-
- Bidding notifications
- Search and filtering
- User-friendly interface
Cons-
- Seller’s fees
- Potential scam
- Shipping and handling
-
Manheim
is one of the largest providers of wholesale vehicle auctions and automotive remarketing services. The company is specialized in connecting automobile dealers, manufacturers, rental car companies, and many other professionals.
They can buy and sell used vehicles as well. It is the world’s leading provider of used vehicles. It operates a vast network of auction locations across various countries.
Manheim.com allows dealers to register and participate in virtual auctions. It also provides remarketing services for effective automotive businesses.
-
4.1
Ratings -
10Cr+
Downloads
-
Pros-
- Extensive inventory
- Efficient process
- Transparency
Cons-
- No test drives
- Auction fees
- Limited return policies
-
Auction.com
is a real estate auction marketplace. You can use this site to sell and buy residential and commercial properties through digital auctions.
It includes foreclosed homes, bank-owned properties, short sales, and commercial properties. It operates across the united states so that buyers and sellers can use it for the best bids.
It provides detailed property information, description, photographs, and property reports.
-
4.3
Ratings -
10Cr+
Downloads
-
Pros-
- Large Inventory
- Financing options
- Competitive prices
Cons-
- Non-refundable deposits
- Buyer’s premium
- Time constraints
Business Model of Bidding Apps
The Bidding apps generate revenue using many ways. Here is a brief of these ways.
- Listing Fees:
Auction apps charge sellers to list their items and services on the app. The fees charged by different platforms can vary.
- Transaction Fees:
The app can take a percentage of the final selling price as its transaction fees. It is for providing the platform and managing it.
- Subscription Prices:
Some bidding apps provide subscription plans to sellers to offer them specific benefits. These are reduced fees, priority customer support, and exclusive access to special features.
- Premium Features:
Some bidding apps charge additional fees to provide premium features. They can be highlighted listings, placement in search results, and the ability to add more images and detailed descriptions.
- Advertising:
Bidding apps display advertisements and these ads can be based on user’s interests and behavior.
- Bidding Credits:
Users have to purchase bidding credits/packages before participating in auctions. It helps in the app’s earnings.
- Affiliate Marketing:
Some auction apps partner with other eCommerce platforms or sellers through affiliate marketing programs.
- Data Insights and Analytics:
Auction apps can analyze users’ behavior and buying patterns to gather valuable insights. They can offer data analytics services to sellers or third-party companies for a fee.
Many resources are needed to complete an app. Android app development tools are the most important resources for the same.
How to Develop Bidding Apps?
You can develop a mobile app by following the below steps.
- Analyze competitors
- Decide on platforms
- Decide on features and designs
- Start design and development
- Create MVP
- Improve the app
- Deploy the app
If you don’t know how to develop an app or lack technical expertise, hire an Android mobile app development firm.
Technource is a reliable software development company in the USA. You can hire a team of developers for your project from this company. It uses the best cross-platform app-building frameworks.
Cost to Build Bidding Apps
The Bidding apps vary in features and services so their development costs.
An estimated development cost of a bidding app is $30,000.
However, several factors affect the cost of app development. The main factors are as follows.
- Type of business model
- App development team
- App design and functionality
- App development platform
- App UI/UX
- App maintenance
Have a look at the price distribution of app development.
| Factors | Cost in dollars |
|---|---|
| 1. Cost of Business Analysis | $2000 – $3500 |
| 2. UI/UX Design Cost | $3500 – $5500 |
| 3. Android App Development Cost | $6000 – $9000 |
| 4. iOS App Development Cost | $8000 – $12000 |
| 5. Hybrid App Development Cost | $12000 – $18000 |
| 6. Website Development Cost | $3500 – $5500 |
|
7. Project management |
$3500 – $7000 |
Final Thought
Bidding apps like eBay, DealDash, CataWiki, Sotheby’s, AuctionZip, and others provide platforms for sellers to list their items and services to sell at the right prices through auctions. An intuitive user interface and excellent marketing tactics can help your auction app to compete with them. Consider all the factors like analysis of competitors, business model, and app development cost for a successful app.
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