Looking to build a successful custom
software solution? Our experienced
development team is ready to assist.
If you want to create an auction site, turn to Geomotiv. With our experience in online auction platform development services, you will get custom auction apps to suit all your needs.
Looking to build a successful custom software solution? Our experienced development team is ready to assist.
Partner with Geomotiv – the right eCommerce development company to meet all your goals.
Someone creating an online auction website can market and sell various products to the highest bidder without mediators. So, if you want to make your auction sites like eBay or Listia, go with an experienced custom software development company like Geomotiv. Our team has built multiple eCom marketplaces and auction websites, and we are ready to work on the technical side of your solution.
An online auction platform is a marketplace that brings together buyers and sellers and facilitates transactions between them. Unlike traditional marketplaces, this type of platform is based on a bidding system, which works in the following way:
Most online auction platforms work the same, though there are other mechanisms to consider. For example, buyers can compete and bid for the product in descending or ascending orders, determined by the chosen auction type. In addition, you can create an online auction site using one of the popular mechanisms, such as English auction, Vickrey auction, Ticker auction, and so on.
Benefits
Shortcomings
Benefits
Shortcomings
Then, partner with Geomotiv to overcome your web development challenges and create an outstanding product!
An auction type where bidding starts from a suggested reserve price and proceeds with accepting bids in ascending order. The highest bidder wins an auction in the end.
Players pay a non-refundable fee to place small incremental bids in a penny auction. At the end of the auction, the last bidder wins and delivers the final bid amount.
In this format, placing a new bid resets the countdown timer for the auction. It takes place until no further bids are being input.
The essential rules for this auction type do not imply that a bidder pays extra fees. But the winner of the auction bears the cost of the actual bid.
This auction type operates for a limited number of hours or days a week.
Here, the buyers can acquire an item at the Buy-It-Now price, bypassing competitive bidding, or choose an option to place a bid instead.
The main principle of this auction type is to make it available only for new bidders on your custom auction website.
This type of auction implies granting exclusive access to the bidding process. For example, you can allow a set of participants to pay an additional fee to bid on the inventory.
Here, multiple bidders can set a minimum price to let the auction begin.
Dutch auctions start at a high price, progressively lowered until a bidder accepts the price. In this way, succeeding winners pay less for the remaining items.
The winners in this auction type are the ones who place the highest bid. But eventually, they have to pay the second-highest bidder price.
The principle of this auction type is to enable bidders and sellers to submit their desired price to an auctioneer. The trade is executed when a match is between a buyer’s price and a seller’s asking price.
In this type of auction, no bidder knows how much the other players have bid. Consequently, the winner pays the first highest price on the auction platform, though the lowest one can win in some cases.
Fees for Sellers
Each time the vendors sell some goods through their auction platform software, they are charged a certain fee of the total sum …
Fees for Sellers
Each time the vendors sell some goods through their auction platform software, they are charged a certain fee of the total sum amount. This revenue option serves as a primary source of income for eBay – the global auction platform that needs no introduction.
Insertion Fees
This monetization option presupposes charging a non-refundable fee
to list an item or a category for sale on any online bidding …
Insertion Fees
This monetization option presupposes charging a non-refundable fee
to list an item or a category for sale on any online bidding platform. Then, regardless of whether that listing sells or not, the platform charges each vendor a different amount depending on the item’s category and seller’s status. As a rule, sellers can publish up to 50 free items within one category per month.
Transaction Fees
This revenue option implies charging a fee per transaction and a percentage of the total sale amount. For instance, most categories on eBay …
Transaction Fees
This revenue option implies charging a fee per transaction and a percentage of the total sale amount. For instance, most categories on eBay have a standard 2.9% fee on the final deal value and a $0.30 fee per transaction.
Membership Fee
This monetization strategy opens new ways for business promotion as it grants exclusive benefits for vendors in exchange for a fee. From …
Membership Fee
This monetization strategy opens new ways for business promotion as it grants exclusive benefits for vendors in exchange for a fee. From training
in e-bidding for sellers to receiving detailed analytics of their participation
in various auctions, this gives a vital revenue stream for a custom auction website.
| Custom auction platform | Platform-based software | Combined solution | Customization of white-label solution |
|---|---|---|---|
| $96.000+ | $50.000+ | $75.000+ | $25.000+ plus license fees (up to $30.000 annually) |
| You get custom auction software built from the ground up to match your business logic. | Customization and extension of an existing open-source auction platform like OpenBazaar or AuctionCore. | Integration of open-source components with custom-developed modules to create a unique auction platform. | Tailoring a pre-built white-label auction platform like Auction Software or Bidpath to meet specific requirements. |
| Capitalize on a scalable architecture, fast load times, seamless integrations, and adaptability to emerging technologies. | Benefit from fast market entry and cost-efficiency of using a pre-built foundation. Consider limited customization depth and dependence on existing architecture. | Leverage a balanced approach to build your auction website. Take advantage of high flexibility with moderate costs and time-to-market. | Reap benefits from fast turnaround times and low upfront costs. Weigh them against limited flexibility, ongoing costs, vendor dependency, scalability constraints, and lack of full IP ownership. |
| Best for: businesses with unique requirements that demand total control over the platform’s features, performance, and IP. | Best for: cost-conscious projects with moderate customization needs and a preference for leveraging community-driven solutions. | Best for: projects needing a tailored solution while benefiting from cost-efficiency and fast time-to-deploy of open-source components. | Best for: businesses looking for a quick launch with limited customization, often with the added value of vendor support. |
| Benchmark | Custom auction platform | Platform-based software | Combined solution | Customization of white-label solution |
|---|---|---|---|---|
| Upfront costs | high | moderate | moderate | moderate |
| Time | 6 to 12 months | 3 to 6 months | 4 to 8 months | 2 to 4 months |
| Scalability and flexibility | unlimited | moderate (some limitations) | high | limited (depends on the vendor) |
| Community support | in-house | continuous | hybrid | vendor-supported |
| IP Ownership | full | limited | partial | limited |
| Ease of integrations | unlimited | high (easy with plugins) | high (tailored) | moderate (depends on the vendor) |
| Customization depth | unlimited | moderate | high (with custom modules) | limited (platform-restricted) |
Request a Free Quote Now to discover how we can bring your vision to life and
provide a comprehensive solution focusing on long-term goals.
Leverage our global network of senior tech talent and an in-house force of 200+ engineers to source experienced developers for your projects.
Geomotiv connects you with top-tier senior developers across 10 locations in 5 time zones, offering genuinely global talent from diverse backgrounds.
Our experienced professionals can seamlessly integrate into your project or operate as a standalone unit within your company, ensuring swift turnaround times for auction platform development.
We can assemble a dedicated team in under 4 weeks or recruit individual developers within 1-2 weeks, delivering efficient staffing solutions tailored to your needs.
Partner with our trusted software development and staff augmentation company that has successfully served industry leaders since 2010. With our support, your new contractors will perfectly match your requirements, receive comprehensive HR support, and thrive in a productive and supportive work environment.
Geomotiv’s developers navigate the extensive ecosystem of WordPress CMS plugins to build reliable and scalable online auction software. Our specialists know how to use them to integrate standard and advanced bidding mechanisms, deliver secure payment processing, and craft user-friendly experiences across devices.
200+ senior in-house engineers and an internal base of 80.000 pre-vetted candidates power our auction software development company with the highest level of proficiency in back-end technologies. Our deep technical knowledge and extensive resources allow us to deliver reliable and high-performing solutions.
Geomotiv brings together teams of front-end specialists and provides individual experts who excel at creating user-centric experiences. Our engineers use industry-standard and cutting-edge front-end technologies to create responsive interfaces tailored to the specific needs of the auction platform’s users.
Enhance your online auction bidding software with our deep technical skills as a Google Cloud Partner and AWS development expert. Our team designs scalable, secure, and high-performance solutions leveraging Google Cloud’s advanced tools. Additionally, we use AWS’s robust services and global infrastructure to ensure reliable performance and rapid deployment.
Our mobile developers work with tools like React Native for cross-platform apps, Swift for high-performance iOS development, and Java for Android OS to build online auction mobile apps with responsive interfaces and performance-ready architecture.
When our clients turn to us with a request to build a custom auctionplatform, we fully understand our responsibility for creating a reliableand secure platform to ensure safe experiences for all users. To makeit possible, we use only the best technologies and tools and pay muchattention to QA and testing processes.
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A real-time bidding platform is a virtual marketplace where people can buy, sell, trade, and check out the inventory provided by multiple vendors. Multiple users can bid on a vendor’s list at any given moment, then the winning bid (with the highest value) is shown to the user. Through an online auction platform, bidders and vendors connect, and the selling process is executed.
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