Auctions and Bidding Platforms Development

Want to create an auction site like eBay? Then, turn to Geomotiv, a trusted service provider with extensive experience in creating custom auction apps and eCommerce marketplaces.
With our world-class online auction platform development services, you will be able to create
fully functioning software with the right features to fit all your needs.

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Overview

What is an Online Auction Platform

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. That means that a seller can list an item with a starting price to potential customers and let interested ones place their bids in real-time. Eventually, when the auction is over, the bidder with the highest price wins the item.
Most of the online auction platforms work the same, though there are other mechanisms to consider. For example, buyers can compete and bid for the product 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 auctions, and so on.

The platform’s goal is to establish and coordinate relations between buyers, sellers, and administrators. Therefore, it must support all three user roles and provide the functionality to facilitate their interaction and transaction with each other and the website. Thus, another crucial aspect is the design and navigation, which have to be intuitive and user-friendly.
Someone creating an online auction website has an opportunity to 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.

Your Options

Custom vs. Ready-Made Auction Platforms

Custom Auction Website

Benefits

  • A purpose-built product around your needs and vision from the very beginning
  • Real-time data changes and high performance under increasing load
  • Fast loading times of custom auction websites and apps
  • Regular security updates and patches that reduce chances for intrusion


Shortcomings

  • Relatively high time investment throughout various software development phases
  • High upfront costs associated with hiring a professional development team with cross-functional technical expertise

Ready-Made Auction Platform

Benefits

  • Faster implementation with a broad ecosystem of business app patterns and easy-to-use proven solutions
  • Lower upfront time investments as there is no need to hire a team of developers to create an auction website
  • Quick installation and deployment and lower development and customization costs

Shortcomings

  • Limited choices for self-expression and lack of quick adjustments to particular scenarios
  • Lack of compatibility with customer expectations and limited choices for business development
  • Additional expenses to cover high maintenance fees

Listing Options

Different Types of Online eCommerce Auctions
We Can Implement

English Auctions

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.

Penny Auctions

In a penny auction, players pay a non-refundable fee to place small incremental bids. At the end of the auction, the last bidder wins and delivers the final bid amount.

Peak Auctions

This auction type operates on a limited number of hours or days in a week.

Free Auctions

The essential rules for this auction type does not imply that a bidder pays extra fees. But the winner of the auction bears the cost of the actual bid.

Ticker Auctions

In this format, placing a new bid resets the countdown timer for the auction. It takes place until no further bids are being input.

Buy It Now Auctions

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.

Beginner Auctions

The main principle of this auction type is to make it available only for new bidders on your custom auction website.

Seat Auctions

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.

Reserve Auctions

Here, multiple bidders can set a minimum price to let the auction begin.

Dutch Auctions

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.

Vickrey Auctions

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.

Double Auctions

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.

Sealed Bid Auctions

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.

eCommerce
Auction Software Development for Your Vertical
Food & Restaurants
Auction Software Development for Your Vertical
Automotive
Auction Software Development for Your Vertical
Art
Auction Software Development for Your Vertical
Real Estate
Auction Software Development for Your Vertical
Logistics
Auction Software Development for Your Vertical
Finance
Auction Software Development for Your Vertical
Luxury goods
Auction Software Development for Your Vertical
Charity
Auction Software Development for Your Vertical
eCommerce
Food & Restaurants
Automotive
Art
Real Estate
Logistics
Finance
Luxury goods
Charity

Monetization Models

Primary Revenue Sources We Can Implement

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 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 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 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.

Are you looking to build an excellent auction website?

Then, partner with Geomotiv to overcome your web development challenges and create an outstanding product!

Key Functionality

Features that Go with Auction Platform
Software Development

  • Different user roles and panels (Buyer, Seller, Admin)
  • Authorization and security
  • User profiles, Home page and Product page
  • Search and filters functions
  • Auction functionality
  • Reviews & ratings
  • Shopping cart and payment gateways
  • Notifications and Analytics
Our Approach
Let Us Estimate the Functionality and Related
IT Services
Template-Based SoftwareSoftware-as-a-Service SolutionCustom Auction Platform
$3.000-$10.000$300-$6000+/month$50.000+
The simplest and the cheapest way
to build your own auction website
using WordPress themes
An option to build an auction site by “renting” a cloud-based platform
from a service provider
With custom auction software built from scratch, it is possible to create a unique product that will stand out on the market
Generic design and features, security and performance issues, platform limitations, possible bugs, and glitchesLack of flexibility and customization.
The SaaS provider manages product updates, security, hosting, PCI compliance, and other technical aspects
Complete control of the features and functionality, vast customization options, scalable architecture, enhanced security for sellers and bidders

TECHNOLOGIES

Tech Stack for Auction Platform
Software Development

TECHNOLOGIES

Solid experience goes hand-in-hand with mastering appropriate toolchains.
We use both cutting edge and classic technologies.

OUR STRENGTHS

Why Entrust Your Custom Auction Website
Development to Geomotiv

Senior specialists with deep business and technology background

Advanced solutions that bring real value to businesses and end-users

Extensive knowledge of
creating auction websites
for multiple domains

Rigorous testing to ensure
the solution is error-free

Secure third-party integrations: payment gateways, marketing tools, CRM, etc.

Apps with a user-friendly interface for every
end-user type

Vast experience with microservices architecture design and development

On-time delivery of
quality solutions

Transparency of the entire development lifecycle

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FAQ

Need Help? We’ve Got You Covered!

What is a real-time bidding platform?

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.

How much does it cost to build an auction website?

To calculate the cost to develop auction bidding software, you need to factor in the functionality according to the requirements. On the flip side, consider the hourly rate of the development team. Here’s the approximate cost breakdown:

FeatureTimeCost
UX/UI Development42 h$1,890
Authorization and Security72 h$3,240
User Profile42 h$1,890
Home page84 h$3,780
Search/filtering96 h$4,320
Product page   42 h$1,890
Auction functionality160 h$7,200
Reviews & Ratings48 h$2,160
Shopping cart  64 h$2,880
Payments42 h$1,890
Notifications32 h$1,440
Buyer, vendor, admin panels372 h$16,740
Total1,096 h$49,320
How do I start my auction website?

Step 1. Determine the listing type for your online bidding platform;
Step 2. Identify the necessary user roles to meet project requirements;
Step 3. Draft feature lists and functions for the website;
Step 4. Decide on the type of software: template-based, SaaS-based, or a custom solution;
Step 5. Find the best software development team with vast expertise in eCommerce;
Step 6. Pay attention to online payment authorization and security;
Step 7. Launch your auction eCommerce platform;
Step 8. Promote your solution to target customers.

CONTACT

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