One of the main drivers for traditional auction houses to go online is the fast digital transformation they are undergoing. As a consequence, the online auction industry is getting more and more significant. Bidspirit has been very influential in this change as it easily connects sellers with buyers worldwide. Bidspirit and similar platforms have revolutionized the auction businesses, such as local auctions, which can no longer be limited by geography, and people can give their bids in real-time.
Thanks to the shift from traditional venues to online platforms, there are now new ways to generate revenue, and the number of customers has increased significantly. In case you are a start-up or an auction house, it would be a brilliant idea to create such a platform to capitalize on the booming market and, at the same time, to upgrade the auction experience, which is a win-win situation for businesses and collectors worldwide.
What Is The Bidspirit Application?
Bidspirit application is a mobile platform where users can look for and take part in online auctions of products from the categories of art, antiques, and collectibles. Through the platform, they can place live bids, submit absentee bid instructions, track the items they are interested in, and receive notifications about upcoming auctions. The app is a link between bidders and auction houses, and it offers a real-time bidding and auction management interface.
Businesses or startups that are thinking of investing in developing a Bidspirit clone can also purchase a ready-made white-label solution. Businesses don't need to invest heavily in the app and wait months or years to launch it; they can easily rebrand this solution and launch in a week or two.
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The Working Process Behind The Bidspirit Clone App
The Bidspirit clone app is an online auction hub that connects users (bidders) with different auction houses (sellers). Let's explore how it works:
1. Registration and Approval
People wanting to use the app must first register a free account by submitting information such as their name, email, and shipping address. If someone wants to place a bid, they usually have to get pre-approval by the particular auction house that will be conducting the sale, and the whole process may require signing some forms and paying a deposit.
2. Browsing and Searching
Before signing up for an account, anyone can view the catalogs of the upcoming auctions and search for particular items. It is also possible for users to save products to a "wish list" and set up alerts to be notified when the auction of their favorite item is about to start.
3. Bidding
There are two main ways through which a bidder may participate:
➤ Absentee Bidding: If a user is not going to be present at the live auction, the individual should render a pre-approval to choose the maximum amount to be paid on the user's behalf. Right from the auction, also known as the "system", will automatically place the bids in the course of the auction until it reaches the last maximum amount.
➤ Live Bidding: In the case where an auction is live, people allowed to participate would first have to visit the online bidding platform, and if they choose to do so, they would watch the clip-stream for a timely account. The current price is indicated by an orange "bid" button, and if somebody wants to increase the bid by one step, he/she simply have to click on the button and do it.
4. Winning an Item
The item is awarded to the person who places the highest bid when the auction ends, given that their bid is above any secret reserve price set by the seller. Correspondence in the form of an email and notification under "my won items" will be received by the user.
5. Payment and Delivery
The winning bidder will be required to settle the payments for the items obtained in the auction with the auction house through the app. The announcement of the terms and conditions for the shipping and handling will also be done by the auction house, and as a result, extra costs (e.g., buyer's premium, taxes, shipping costs) will be charged.
Key Benefits Of An Auction App Like Bidspirit
The table below shows what kind of benefits an auction app like Bidspirit offers to its users:
| Benefit | Description |
| Access to Global Auctions | Inspect and place a bid on the products of auction houses from any part of the world without the need to travel. Find out rare and unique items from sellers located in different countries. |
| Convenient Mobile Experience | Using a smartphone or a tablet, users can make a bid on the go, and it does not matter where or when. The mobile notifications will never leave them out on an auction. |
| Transparent Bidding Process | Observe the current bids, auction history, and the details of the item in a very straightforward manner. Buy smartly with the help of total price transparency. |
| Secure Payment Integration | All the transactions are done safely via encrypted payment gateways. The Bidspirit clone app offers more than just secure, protected financial dealings. |
| Pre-Auction Preview | See what items will be put up for auction and set alerts for the auctions that the user is interested in. They can collect information and plan their bidding tactics before the auctions begin. |
| Automated Bidding Features | Make a decision on the maximum amount that the user is willing to bid, and the app will take care of the bidding automatically until their limit is reached. Users can be on the winning side without constantly supervising the situation, which will be advantageous with regard to time saving. |
| Detailed Item Information | For each item, high-quality photos, detailed descriptions, and condition reports are available. Users will have no doubts about the purchases they make, since all the product details they need are right at their fingertips. |
Essential Features Of The Bidspirit Clone App
Here are the different panels that facilitate the Bidspirit clone app, and what features each panel includes:
Bidder Panel Features
1. User Registration & Login
Using the platform, users can easily create their accounts. They can then access the platform and start bidding on the auctions they want to.
2. Browse & Search Auctions
The browse and search auctions feature helps bidders to find auctions and items. It will make it easy for them to search using the filters, categories, and other search options.
3. Real-Time Live Bidding
Bidders can be a part of the live auctions right away and, in this way, they can compete with other bidders in real-time.
4. Place Auto-Bids/Absentee Bids
Such a feature is available to bidders who want to set the highest bid limit, and then the system will make the bidding automatically on their behalf.
5. Item Watchlist & Favorites
Bidders can keep the items that they are interested in at their fingertips so that they can track and get updates from their favorite auctions.
6. Secure Payments & Invoice Download
Using this feature, bidders can make their transactions in a secure way and get an invoice for their winning bids that they can download.
7. Push Notifications
Push notifications help bidders to keep them up to date and, as a matter of fact, get instant alerts about auction updates, outbids, and winning confirmations.
8. Bid History & Purchase Tracking
The bid history and purchase tracking feature allows bidders to access all their past bids and track purchases made by them in one place.
Auctioneer Panel Features
1. Create & Schedule Auctions
Using the create and schedule auctions feature, the auctioneers can launch new auctions with flexible options for setting the date, time, and duration.
2. Add Items with Images, Videos, Documents
The add items feature allows auctioneers to provide detailed product descriptions along with multiple media files for enhanced display.
3. Set Reserve Price, Start Price, Bid Increments
Auctioneers can use the set reserve price, start price, bid increments feature and provide the minimum prices and bidding rules to limit the auction behavior.
4. Manage Live Auctions in Real-Time
This functionality provides auctioneers with the ability to command their in-progress auctions, monitor activities, and implement changes to live sales straight away.
5. Track Bids & Bidder Activity
The auctioneer can check all the bids that are coming in and keep an eye on the engagement of the participants throughout the auction.
6. Generate Invoices & Manage Payments
The generate invoices and manage payments feature allows auctioneers to develop invoices and, from the winning bidders, carry out payment collection.
7. Manage Sold Items & Shipping Details
Using the manage sold items and shipping details feature, the auctioneer can organize auction delivery details, including the information and tracking.
8. View Sales Reports & Performance Stats
This feature allows the auctioneer to utilize the detailed analytics to grasp income, success levels, and business expansion.
Admin Panel Features
1. Manage Users & Sellers
Using this feature, the admin has the ability to administer user accounts, verify sellers, and maintain the platform member database.
2. Approve & Monitor Auctions
Admin can use this feature to control auction listings and check that the quality is up to standard before they are published.
3. Set Platform Commission & Buyer Premium
The set platform commission & buyer premium feature allows the admin to adjust money-making models by setting the commission and extra fees.
4. Configure Categories & CMS Content
The configure categories & CMS content feature helps the admin to structure the auction types, and website content is managed with simple tools.
5. Manage Payments, Refunds & Payouts
Using this feature, the admin can execute the financial transactions between buyers, sellers, and the platform, which is their responsibility.
6. Advanced Analytics Dashboard
Admin can use the advanced analytics dashboard and understand the efficiency of their platform through detailed data on sales, users, and revenue.
7. Notification & Email Template Management
The notification & email template management helps admin to create their own automated messages and communication templates for users.
8. Security Controls & Role-Based Access
The admin can keep the platform data safe by using this feature and give different user roles the specific access rights they need.
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AI-Powered Innovations For The Auction App Like Bidspirit
The following shows the AI-based features of the auction app, like Bidspirit. Businesses can add these features to make their app stand out:
1. Personalized Recommendations
The AI-based personalized recommendation algorithm will scan the history of browsing and bidding that the user has placed so far, which will assist in the recommendation of the corresponding future auctions and items. It will help make the user experience and level of engagement a personal matter for users.
2. Smart/Predictive Bidding
AI can be used to determine the app's next best move, or "agents" that help a bidding strategy by suggesting the most effective bid or automatically bidding on a user's behalf up to a certain limit set by the bidder.
3. Dynamic Pricing
AI has the potential to find the best, lowest starting bid, and the most suitable reserve piece for the seller/auctioneers, after investigation of the demand, competitor activities, and the market trends.
4. AI Chatbots for Customer Support
With the help of Natural Language Processing (NLP), AI-based chatbots provide instant and 24/7 customer support by answering frequently asked questions, guiding users through the bidding process, and resolving their issues.
5. AI-Powered Cataloging
AI might perform several labor-intensive auction house tasks, for instance, by tagging images and producing text from the basic data, thus greatly saving on time and effort.
6. Virtual Auctioneer
An AI-powered virtual voice system can call out bids and take control of the pace to create a more thrilling and appealing experience at the same time that managing the pace in the absence of a human auctioneer in internet-only auctions.
7. Augmented Reality (AR) Previews
While not fully AI, the new feature is mostly combined with AI platforms, thus users can be allowed to see the item virtually, for instance, by matching a piece of furniture in their room with the help of their phone camera before bidding.
How Bidspirit Clone Is Built: Development Roadmap
The following table shows the steps used in the Bidspirit clone app development:
| Development Phase | Description |
| Research & Planning | Analyze the market and identify the needs of the target market. Identify the basic features that include live bidding, payment integration and user profile. Develop a project roadmap outline and plan with schedules and specifications. |
| UI/UX Design | Start by designing wireframes and prototypes with simplified navigation that provide users with a great experience. Make sure that the design is compatible and responsive with all devices. |
| Development | Choose a process from a custom-based solution and a white-label solution for the app development. A white-label solution is a pre-built solution that requires a week or two to launch the app, and the investment cost is lower. A custom-based solution is designed from scratch and needs additional investment and development time. |
| Testing & Quality Assurance | The app undergoes bug testing, security vulnerability and performance testing. Check real-time bidding performance with high-traffic conditions to make sure it is stable. Obtain feedback from the beta users and improve accordingly. |
| Deployment & Launch | After successful testing, deploy the app to cloud platforms such as AWS or Google Cloud. Now launch the app in the Apple App Store and Google Play Store. Conduct advertising and provide first users with customer care. |
| Post-Launch Maintenance | Monitor the application performance and solve the appearing bugs and issues promptly. Keep making frequent changes in features depending on the users and market trends. Continuous technical maintenance and guarantee that the servers are online to deliver nonstop services. |
Multiple Income Streams That A Bidspirit Clone Offers
There are multiple income sources for the businesses, using which they can generate revenue through the Bidspirit clone app.
1. Commission from Auction Sales
Bidspirit clone gets a percentage fee from a single auction item that is sold through the app. Simply, businesses only get paid when consumers buy something.
2. Subscription Fees from Auction Houses
This model will allow businesses to put a monthly or yearly plan on a platform for auction companies. The subscription fee facilitates their access to tools, listing features, and customer support.
3. Listing or Publishing Fees
If an auction house is posting its pieces or events on the app, it might have to pay for that. It allows them to get more exposure and potential buyers.
4. Marketing & Promotional Services
The Bidspitrit charges extra money for the premium advertising or promotion for the sellers. For example, it could be a featured placement or a highlighted listing.
5. Payment Processing Fees
There is a small fee that the app imposes for the payments that it makes between a buyer and a seller. This charge is for safe payment services and the costs of the transaction.
6. Buyer Fees (in some cases)
The buyers of an auction may be charged an extra fee by the auction when they win an item. This fee is used for the maintenance of the platform and services.
Build an Intelligent Auction App with Smart Features
Wrapping Up!
It takes a thoughtful strategy and the incorporation of appropriate features to create an online auction portal like Bidspirit. Some of the main features to consider include an intuitive design, safe payment methods, live bidding, and the ability to use the platform on a smartphone.
At Hyperlocal Cloud, we offer businesses and startups scalable, user-friendly apps. We stand tall among custom software development companies and provide cost-effective solutions for businesses starting at $6,000. If you are a business or startup considering investing in an online auction business. In that case, it can be a great source of global networking and steady income if you choose the right partner to develop the auction portal. Contact us today for that!
