How to Develop An Online Bidding Web App: Benefits, Features and Cost

A Complete Guide for Online Auction App Development. What is an online bidding application? How Does an Auction Web App Work? What are the Benefits of Online Bidding Web App Development? Steps and Cost of developing an online bidding web app.

Want to bid on online bidding applications or looking to hire developers to create one? You are at the right place. According to a report by Technavia, the global auction market will be $5728.4 million by 2030. As the demand for online bidding increases, the diversification of Online Auction apps will also witness a tremendous uprise.

So, in this blog, we will explore every aspect of online bidding apps including their definition, benefits, features, and cost. To know more, keep reading the further article.

Read: Importance of Custom Web App Development

Defining Online Bidding/Auction Web Application

Online Bidding App is a platform where buyers and sellers can bid on goods, services, and construction documents. Online bidding applications allow free and fair bidding over competitive prices over the internet, regardless of the bidder's location.

The online auction web app works just like the offline auction but over the web. The buyers and sellers can operate with flexibility depending on the features the online platform offers. Contenders bid on the preferred items while the highest bidder wins and pays the promised amount.

The online bidding platform is smooth and simple. It offers buyers and sellers an extensive platform to reach a larger market and allows the bidder to bid online from anywhere using internet-connected devices such as computers and smartphones.

How Does an Auction/Bidding Web App Work?

The auction web app works just like the offline ones. The basic process of bidding on the platform involves bidding on the given item in a limited time where the highest bidder wins. As the goods are used and are high in demand, you need to be fast to bid or you will lose your chance to bid.

Read: Web Application Development Process

The bidding app requires anyone who wants to bid to create their accounts on the web app for easy check-in and registration on different bidding events hosted on the platform. It also enables bidders to participate in the live event remotely in real-time.

Not only that but it also allows bidders to automate bidding on the desired items even if they are offline and receive notifications when there has been an outbid. To make the bidding process secure and reliable, these web apps also have an encrypted and secured payment gateway that reduces the risk of fraud.

Benefits of Online Bidding Web App Development

Now that we are aware of how online bidding web apps work. Let’s take a look at the benefits below that can help you understand why you should invest in an Online Auction App.

• Larger global market

Auctioneers gain access to a large global market when they auction products on an online bidding platform.

• Flexible locations

As online bidding web apps can be accessed using web browsers from any device with an active internet connection, it allows auctioneers and bidders to remotely auction and bid products from wherever they are with ease.

• No warehousing issues

In online auctions, the items can be directly shipped to the highest bidder. Therefore, Auctioneers are supposed to take care of inventory and shipping in the Online Bidding App. there’s no need to invest and maintain storage warehouses.

• Saves time and money

While offline auctions include paying rent and managing other amenities like hiring a management staff, warehouses, and inventory, online auctions require none of them. Thus, saving time and money compared to the traditional bidding method.

Must-Have Features of Online Bidding Web App

Before you hire developers to build an online bidding web app, it is important to know some of the non-negotiable features the web app must have.

These features include search options that enable the bidder to find using photos and voice and profile interchanging, product details, seller details, profile switch, payment gateway, concurrent bidding, auction details, shopping cart, and sharing option.

Let’s understand each of these in detail.

Read: Progressive Web App Development

Search Options

Using this feature, buyers can easily search for the items they are looking for. To make your Online Bidding App technologically advanced, you can add a feature where it allows voice and photo search to ease the searching process.

For further ease, you can also add filters and sort options where the filters are based on items, color, type, and delivery options, and sort can help categorize products based on relevance, cost (high to low) (low to high), and size (high to low) (low to high).

Product Details

This includes the details of the product like name, color, size, price, rating, review and comments, current condition, shipping cost, accepted payment methods, delivery date, and return policy. The information about the product gives assurance to the buyer and provides the exact idea about it.

The right information about the product is important as the buyer cannot physically see the product. Moreover, adding ratings and review options with product details also helps the buyer to understand more about the product.

Seller Details

The details about the seller can help the bidder differentiate the genuine seller and avoid any risk of fraudulence. This option shares a summary of the seller, the products listed by them, and a brief description of the products’ revenue, and sale.

Switching Between Profiles

To stand out from the market you can also add a profile-switching option to the web app. This feature will allow the auctioneer to bid in other auctions and vice versa by switching the account, improving the functioning of the Online Auction web app for the auctioneers.

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Payment Gateway

This is an important feature that allows the auctioneers to have options to receive payment through different modes. Various payment methods, such as credit cards, debit cards, UPI, bank transfers, and digital wallets, can be used by the bidders to deal with monetary transactions. However, it is important to make this payment gateway safe and secure. To achieve that, developers can include payment encryption, tokenization, PCI DSS, biometric authentication, etc. in the bidding app.

Concurrent Bidding

To stand out from the competition, the online bidding app has a concurrent bidding feature that allows the bidders to bid and get real-time feedback. The platform provides an automatic update system that increases the bid to the higher bidder price. Also, users are allowed to edit, delete, and change bids. However, to avoid the hustle and bustle the changes should be restricted to a point where the last bid can be tracked.

Auction Details

This feature notifies the bidder about ongoing or upcoming auction events. This can also have details about the auction such as time, purpose, or type.

Shopping cart

This feature enables buyers to bid on multiple auctions simultaneously, streamlining the payment process by allowing them to pay for all items at once.

Sharing Option

The sharing option allows the bidder to share their desirable items with their friends and family on different applications. This feature can help to open any auction or item by just clicking on the link and also to add a second opinion on the bidding.

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Steps to Create an Auction Web App

To create a high-end online auction web application, a specific procedure must be followed. Here is a complete guide to the process.

STEP 1- Identifying needs and requirements

The first step is to identify the requirements, and objectives of the business. While identifying you need to be aware of the current trends and competition around you. Answering a few questions which are listed below can help you clearly state the business objectives and requirements.

• Who is your target audience?

• What problem are you trying to solve for the target audience?

• What is your budget to create an Online Auction Web App?

• What features do you want for your Online Bidding App?

STEP 2- Select a development company

This step is most crucial because the quality of the web app is defined by the web app development company you outsource to develop an Online Auction App for your business.

Here at Decipher Zone Technologies, you can find top-class services to ripen your business idea or plan into a productive Online Auction Web App. The developers at DZ have years of expertise and experience that will help you minimize the development cost and time-to-market while maximizing the online bidding web app ROI.

STEP 3- Select the features and tech stack

The features are important as they should be user-friendly and allow the comfort of the auctioneers and bidders to use the web app. Basic features such as online bidding, listing options, auctioneer profiles, and payment methods are a must.

To stand out from the market of Online Auction Web App you can include additional features to the basic ones like credit score, customized emojis, and interchanging profiles.

After choosing the features, it is time to choose the right tech stack to build the web app among the vast range of tools, programming languages, and frameworks available in the market. To make the process of opting for the tech stack easier, you can take suggestions from the development team as well.

Read: CRM in Real Estate

STEP 4- Prototype and testing

Once you have finalized the features you want to go for, the development team will create and share a visual mock-up of the web app, demonstrating app functionality and design without working code.

This allows you to test and validate the idea, and gain a better understanding and predictability of the web app, before initiating the web app development process.

STEP 5- Web App Development and Debugging

Once the prototype is improved and finalized, developers can start creating source code and building the online bidding web application for your business. While developing, they will collaborate with you to keep you in the loop and work towards continuously debugging and improving the web app until it’s ready to be launched in the marketplace.

STEP 6- Launching the Online Auction Web App

After everything is set according to the requirements of your business that ensures a seamless experience and smooth participation of auctioneers and bidders. Your Online Auction Web App is ready to launch. You can launch on different downloading platforms including Google Play Store, and Apple App Store.

Read: Mobile App Development Process

Cost to Develop Online Bidding Web App

That being said, while developing a basic online auction web app can cost around $8000 to $12,000, the cost of developing a complex Online Auction App can range from $50,000 to 80,000, including maintenance and support. In this revolutionary increasing industry, the web app development cost depends on its features and complexity.

Conclusion

It is not easy to get a customized Online Bidding Web App. But you don’t have to worry!

Now that you know what an Online Auction App is, its benefits, and how it works. It will be easier for you to set your requirements for the business.

All you need to do is share a summary of your business idea with us and our team will get in touch with you to have further discussion before providing a customized action plan and price quote for you.