Best Auction Software

While scheduling an auction event, management faces countless hurdles. To tackle the unavoidable obstacles and maximize the return on the auction fundraising endeavors, organizations must implement an auction software explicitly created to accomplish these kinds of events. The bidding software manages the auctions by web-based servers. This allows sellers to post items online for sale, while the buyers may bid on those items. Auction software serves as a complete event-planning solution. The below-listed online auction software includes numerous features such as event dashboard, track item, manage invites, assign bidders a unique value, etc. Get the right application to receive an unmatched auction solution.

Auction Software
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List of Auction Software | Online Auction Software

  • uBidAuction

    Run Your Own Auction Site
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    Build your auction site in minutes! uBidAuction is a powerful, scalable & fully-featured classic and bid auction software that lets create the ultimate profitable online auctions website. It allows to manage entire online auction operation: create new auctions within seconds, view members auctions and use the auction extension settings tool. Our auction software uBidAuction will allow to setup ... learn more about uBidAuction

    "Scam?"
    Sergio Bonacci Lapalma
    Entry Level Price
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    Free Trial
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    100%

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    Auction Software
  • Auction Software

    Custom marketplace and auction Solutions
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    AuctionSoftware.com Buy and sell tools which can be customized to Auction, Reverse Auction, Penny Auction and Silent Auction. We are suited for individual business entrepreneurs , family business , multi million corporate and government entities to deploy auction, buy it now , reverse , penny and silent online marketplaces. Our Software runs on Cloud & Dedicated Servers, also works well with 50+ p... learn more about Auction Software

    Entry Level Price
    $50 per Month
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    Auction Software
  • BiddingOwl

    Raise more with Online Charity Auctions
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    Free non-profit charity auction software - Yes, it's true! We strongly believe in non-profit fundraising and want to make our easy to use software available to as many charities as possible. Our auction manager is free! We place no restrictions on the amount of items, users, donors or solicitors. Why would we? We want you to succeed and raise as much money as possible.Nope, no subscription fee eit... learn more about BiddingOwl

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

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    Auction Software
  • SimpleAuctionSite

    Mobile-Responsive Auction Website Design
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    Since its inception in 2005, SimpleAuctionSite.com has grown to become the leading auction software provider for websites specializing in collectibles. SimpleAuctionSite.com now conducts hundreds of auctions annually, presenting millions of auction lots to potential bidders on behalf of more than 60 of the world's finest auction houses.From those who specialize in quality local estates to those wh... learn more about SimpleAuctionSite

    Entry Level Price
    $300.00 per Month
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    Auction Software
  • bidJS

    Online Bidding plugged into your website
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    Installing BidJS is really easy, our step-by step guides will have you up and running in no time.Not technical? We have a wide range of partners around the world that can install BidJS on any website in no time at all.We"re currently working on a process for you to create your own accounts.BidJS is built by the really nice guys and gals of Bidlogix in Brighton,experts in the Auction Sector. ... learn more about bidJS

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    Free Trial
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    Auction Software
  • Rainworx

    Create Your Own Online Auction
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    Rainworx is a fast-growing, full-service weather protection company. We pride ourselves in providing exceptional quality and workmanship​ and serving our community with integrity. Our current departments include Roofing, Siding, Windows, and Gutters.AuctionWorx enables businesses to connect and service their own unique market, industry, or regional auction website.AuctionWorx can be deployed as-... learn more about Rainworx

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    Auction Software
  • Solid II

    The Software used by Auction Professionals
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    SOLD II® has been working with the auction community for over 25 years. That continuous development has brought about the comprehensive and up to date auction system available anywhere. All along, SOLD II® has been an innovator, applying the latest cost-effective technology to auctions.You benefit from an auction system that most likely already covers the special needs of your auctions.... learn more about Solid II

    Entry Level Price
    $599 per One-time
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    Auction Software
  • Auction-Experts

    Auction-Experts offers you unlimited possibilities with a wide range of functionalities.
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    We are developing and hosting auction software since 1999. Our aim is to be the best partner for auction companies or for companies that ran auctions as part of their business process.With our integrated software solutions, we deliver you unlimited sales possibilities with a wide range of functionalities for big and small auctions. We offer our software as a SaaS solution in several cloud options.... learn more about Auction-Experts

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    Auction Software
  • We are a software development company founded by auctioneers. We offer a service that provides companies with a complete solution for conducting online auctions on their own website. The service includes enterprise auction management software and professional website hosting.The software includes a suite of productivity tools to manage online auctions, storefronts, mailing lists, bidders, and cons... learn more about AuctionMethod

    Entry Level Price
    $150.00 per Month
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    Auction Software
  • NextLot

    MORE BIDS. HIGHER PRICES.
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    NextLot provides a fresh approach to online and webcast auctions. With three main auction formats: Timed Auction, Webcast, and Pre-bid, NextLot believes that auctioneers biggest assets are their customers and that they should not have to share them on a public portal. NextLot users build brand loyalty while enjoying full control of their customer base and avoiding exposure to competition. NextLot ... learn more about NextLot

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    Auction Software
  • For all non-profit organizations — public & private schools & universities, faith-based groups, sports teams, humanitarian & health organizations, animal welfare societies, workplace giving campaigns and more.The one-stop, cloud-based auction software solution for your silent, live, mobile, and online fundraiser auctions. ... learn more about ReadySetAuction

    Entry Level Price
    $1099 per Year
    Free Trial
    15 days
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    Auction Software
  • Handbid

    Raising money for your cause has never been easier.
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    Handbid is fully automated mobile silent auction software specifically designed to increase revenue, drive bid activity, and maximize ROI for non-profits.Eliminating the need for paper bid sheets, Handbid empowers users to bid using a mobile device, the web, or a tablet (kiosk) at the event. Bidders can enter bids remotely or locally, manage their bids with proxy bidding, and instantly view status... learn more about Handbid

    Entry Level Price
    $695.00 per Year
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    Auction Software
  • Auction mobility

    Online Auction Software, Web Design and Ecom Solutions
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    Our platform’s unique digital customer experiences promote your brand across your website, tablet and mobile apps. We make it easy for people to find, access and buy from you.At Auction Mobility, we are focused on humanizing the digital bidding experience. Our best-in-class solutions increase bidder participation and auction house revenue.As a global provider in over 22 countries, our solutions ... learn more about Auction mobility

    Entry Level Price
    $500.0 per One-time
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    Auction Software
  • Silent Auction Pro

    Sell Tickets and Accept Donations Online
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    Silent Auction Pro provides internet based software as a service to charitable organizations seeking to raise funds through event-based or online auctions. Silent Auction Pro is a comprehensive software suite including contact management, donation tracking, auction item bundling and creation, generation of all auction printed material, integrated credit card processing and full featured check-in ... learn more about Silent Auction Pro

    Entry Level Price
    $99.00 per One-time
    Free Trial
    7 days
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    Auction Software
  • Auction Edge

    Powering Independent Auctions
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    Auction Edge was formed in the summer of 2012 through the integration of ASI, Auction Pipeline and Auto Lookout. In a short amount of time, Auction Edge has created an entity that is dedicated to the development of a unified technology platform solely for the independent auction community.Auction Edge has spent time integrating existing products resulting in increased efficiencies, reliability, an... learn more about Auction Edge

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    Free version
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    Auction Software
  • Auctioneer

    BETTER OPTIONS FOR BETTER RESULTS FOR YOUR AUCTION SOFTWARE
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    Auctioneer Software is a custom online auction software and website design company located in Grandville, Michigan about 15 west of Grand Rapids, MI. AuctioneerSoftware.com was born when a large demand rose for custom auction software that can work together on one platform instead of using several different types of software that was pieced together. The parent company, Spectrum Net Designs, Inc.,... learn more about Auctioneer

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    Auction Software
  • BidPath

    Bidpath Acquire Leading European Auction Technology Provider in Strategic Expansion
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    Bidpath provides fully customized Live Webcast and Timed Online Auction solutions for leading industrial auction companies.Bidpath offers best of breed timed online & live webcast auction technology coupled with superior support and marketing expertise to assist leading auction companies increase revenue and expand further into the global marketplace.While timed online auctions are the fastest gr... learn more about BidPath

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    Auction Software
  • Woo Auction Software

    Launch a professional auctions site in minutes
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    Let users bid the normal way they do in auctions with standard auctions.Build Customized Standard/Forward Auction, Penny Auction or Fixed Auction website with our WPAuctionSoftware. The plugin is optimized for all devices. We setup a complete working site for you.We setup a customized, completed Auction Website for your business. If you are starting up a new business or an established business, we... learn more about Woo Auction Software

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    Auction Software
  • Webtron Online Auction Software

    The power of an enterprise auction platform run from your own website.
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    Webtron is a professional web design and software development company created to help you sell products, and drive business online. We help many well known companies and organisations reach out and interact online with our web based creative.The Webtron online auction software solutions are secure cloud based, white label and full of selling options that will run from your own website. Since 2007,... learn more about Webtron Online Auction Software

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  • Maestro Software

    The Premier Provider of Event Management Software in the Country
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    For over 20 years, our smart and efficient business practices have led to innovative event management solutions at non-profit friendly prices. We believe in your passion and abilities, so we design smart solutions that let you keep more of your fundraising dollars.Our latest innovation gives you direct access to generous experience providers to supercharge your next auction. Browse vacations, golf... learn more about Maestro Software

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    Auction Software
  • Xpert

    Our Online Auction Method Works!
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    Our team includes a dedicated group of professionals experienced in the Online Auction Software business and Estate Liquidation with over 20 years of experience. (total years in software engineering and online marketing experience). Together we have created the most complete “Online Auction Software" available on the market today.Our goal is to ensure the success of your Online Auction Company. ... learn more about Xpert

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    Auction Software
  • PHP Pro Bid

    Professional online auction software
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    Online auctions: all the right tools - proxy bidding, auction sniping, buy out, make offer – to engage and keep clients.E-commerce websites: user-friendly inventory management features, effective shopping cart with a quick one page checkout process.Start and manage an e-commerce website with powerful bidding features and an efficient shopping cart.We're bringing better auction features: live bid... learn more about PHP Pro Bid

    Entry Level Price
    $334.88 per One-time
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    Auction Software
  • Auction Flex

    THE LEADING AUCTION MANAGEMENT SOFTWARE
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    Auction Flex is the market-leader in auction software for live auctions. Auction Flex's capabilities include cataloging, clerking, cashiering, accounting, mailing list management, inventory management, multi-parcel, and much, much, more. Auction Flex also provides a seamless solution to upload your auction catalogs to your website and accept internet absentee bids, conduct internet-only auctions, ... learn more about Auction Flex

    Entry Level Price
    $20.00 per Month
    Free Trial
    30 days
    100%

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    Auction Software
  • AuctionAnything.com

    Increase demand and create excitement about your products.
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    AuctionAnything.com’s mission is to provide our clients with affordably priced, professionally designed, easy-to-use, online auction solutions while delivering world class customer service and satisfaction.AuctionAnything.com provides high quality solutions at fair prices. We continually enhance our product line and expand our feature set with no upgrade costs to our customers. The result is uns... learn more about AuctionAnything.com

    Entry Level Price
    $295.00 per Year
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    Auction Software
  • Webawy

    Run Your Own Auction Site
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    Our Webawy Auction Software is a complete Auction software, comes with Classifieds software, Forums software, Stores and Mall software, Wanted Ads software, Blog software, Content Management CMS software, Banner System software, Affiliates software, Private Mail software, Multi-lingual, Multi-theme, Responsive design, supports all devices with 17 built in themes, and Much More Open Source Code fo... learn more about Webawy

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    Free version
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    Auction Software
  • Snoofa

    Intelligent Auction Software
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    Save time and add value with our all-in-one auction software.Snoofa has been designed specifically for auction houses. Repetitive tasks were identified and tools built to automate them. The software has been developed from the ground up, with stability, security and GDPR always in mind.Snoofa is designed to do everything an auction house needs. It makes life easier by taking away repetitive tasks,... learn more about Snoofa

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    Auction Software
  • SchoolAuction

    Focus on your event— not your software.
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    Easy-to-use fundraising-event management solution for charitable organizations. SchoolAuction.net is built for Schools, Congregations, Clubs, and other Non-Profit Groups.Design the auction mix that’s right for your group – from small silent auctions to large galas to online auctions – we’ve got you covered. Mix online bidding, paper bid sheets, live auctions, and mobile bidding in any comb... learn more about SchoolAuction

    Entry Level Price
    $1000 per Year
    Free Trial
    30 days
    100%

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    Auction Software
  • Rambase

    The most sophisticated software for fine art, collectibles, numismatics and stamps.
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    RamBase – the complete business success platform based on a fully integrated ERP solution in the cloud. RamBase provides complete control by connecting the entire value chain and collaborating, streamlining and simplifying all processes. The result is reliable information essential to your performance quality and bottom-line success. RamBase – Everything Connects!RamBase auction integrates th... learn more about Rambase

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    Auction Software
  • Beyond Solutions

    Visual Auction allows you to run an Ebay-like site customized as needed.
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    Beyond Solutions, Inc. was formed in 1997 and has been creating and providing auction software solutions almost since the inception of the commercial Internet. The company has become so well known and respected in the industry that it has been used as an expert consultant by such firms as Forrester Research and Sony Corporation. If you are in charge of making important e-business decisions for you... learn more about Beyond Solutions

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  • BidRocket

    Fundraising Software That's Out of This World
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    BidRocket's launch in 2019 is the evolution of over 20 years in the world of fundraising and software development. Formerly called Auction Source Austin, our rebranding reflects a new trajectory in the company history, allowing our team to reach beyond the Austin market and serve nonprofits across the U.S., so we can do more for more people in more places.Ready, set, blastoff! Launch a successful ... learn more about BidRocket

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    Auction Software
  • CreateAuction

    The leading online auction service provider
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    Create Auction brings together a turn-key auction solution at the right price that is supported by a team of talented individuals for your organization’s continued success. Our team specializes in developing, hosting, and supporting online auction web sites for established partnerships and corporations as well as for serious newcomers.These are just a few reasons why you would select Create Auct... learn more about CreateAuction

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    Auction Software
  • Sensible Development

    We Facilitate Direct Trade Between Buyers And Sellers
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    The last thing you want is to be charged for add-ons you didn't even know you had. That's why we discuss the full terms of your useage directly before any contracts, so you're never paying more than you should.Need to know how each auction is performing? Use our detailed analytics features to find out how bidding is progressing and how bidders are responding to specific marketing material.Multiple... learn more about Sensible Development

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    14 days
    100%

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    Auction Software
  • Wavebid

    Exceptional Products for Today's Auctioneer
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    Wavebid is a SaaS company and developer of The Wavebid Auction Management System. Our objective is to provide auctioneers with insanely great products and services that they love to use and that will make a difference in their lives.With Wavebid, you get not only great software tools, but also a commitment to excellence from people that fully understand the auction processes as well as the technol... learn more about Wavebid

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    Auction Software
  • AuctionStar

    The affordable, silent auction solution!
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    Save volunteers countless hours in the event preparation phase. AuctionStar covers virtually everything you would expect and more! Our system has been developed based on the needs of non-profit organizations since 1996.To bid, place a barcode sticker next to the bid amount. Because bidding is quick, easy and fun, AuctionStar encourages more competitive bidding! ... learn more about AuctionStar

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  • Auction Streaming

    One Cloud. One Platform. One Solution
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    Auction Streaming offers Unified Solution Platform for auctions and auction groups that helps to easily and successfully set up and run an auto auction in-lane and online. The cloud-based auction management system is comprised of multiple modules and features with interconnectivity that work together and provide both buyers and sellers with the best auction experience. ... learn more about Auction Streaming

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    Auction Software
  • Optimal Auctions

    The Best Auction Software For The Most Important Auctions In The World
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    We are at the forefront of the revolution in the diamond industry, pioneering the use of auction software and advanced auction design to help Rio Tinto Diamonds sell their rough diamonds into the market. 10% of the world's diamond supply is now priced using Optimal Auctions' auction software!Optimal Auctions has provided enterprise-level high-stakes auctions to national governments, state agencies... learn more about Optimal Auctions

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    Auction Software
  • 501 Auctions

    The #1 mobile fundraising platform helping thousands of nonprofits exceed their fundraising goals.
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    501 Auctions helps fund the growth of nonprofits nationwide with our easy-to-use mobile bidding software and auction management service. Our innovative technology streamlines the auction process, making both check in and check out more efficient, and generates additional bidding excitement for your guests throughout the event. Additionally, we automate many of the time-consuming manual tasks assoc... learn more about 501 Auctions

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    Auction Software
  • Bideg

    Online Auction Software
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    This is an e-auction web site that supports companies to reduce cost by using this web based software. In your first e-bidding event using our web site e-Auction software you can save over 5% on your current contract prices.We are also helping our customer to find the right suppliers prior to bid events and we also proud that this is the easiest e-auction software that every can use without any su... learn more about Bideg

    Entry Level Price
    $300.00 per Month
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    Auction Software
  • ReAuction Systems

    YOUR System for Online Real Estate Auctions!
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    Our premium real estate online auction software uses the latest technology to simplify online bidding and maximize the price you get for your listings. We offer "Software as a Service" so you don't need to worry about any of the technical details. You can focus on what you do best...selling real estate.You can have your own premium online real estate auction website, under your full control and ... learn more about ReAuction Systems

    Entry Level Price
    $97.00 per Month
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    30 days
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    Auction Software
  • Dealer Simplified

    Possibly the Best Software for Dealers & Auto Auctions
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    Dealer Simplified, an auto industry-leading developer of Internet-based used car marketing tools and online dealer auction software.They provide innovative software and technology to help dealers improve their used vehicle department sales and profits.Dealer Simplified's, AuctionSimplified.com™ software, helps dealers hold their own private dealer auctions, providing them a wholesale marketplace... learn more about Dealer Simplified

    Entry Level Price
    Free version
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    Auction Software
  • ACV Auctions

    The New Standard in Online Auto Auctions.
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    ACV Auctions’ mission is to become the most trusted source in the industry for purchasing wholesale vehicles. Our product leverages mobile to its maximum benefit through enabling 20-minute auction sessions from dealers’ lots; this eliminates the need to ship cars to auction. Our technology modernizes the entire arc of auction operations, including account management, title management, floor pl... learn more about ACV Auctions

    Entry Level Price
    $50.00 per Year
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    Auction Software
  • Penny Auction Express

    #1 Rated Penny Auction Software Package
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    Start your penny auction website today with the best penny auction software money can buy! Full support and training provided by our expert staff. Free one hour installation and site setup is included.Our Penny Auction Script firm specializes in development of new Penny Auction software concepts and ideas including mobile apps!Our complete PHP penny auction script solution comes with Professional ... learn more about Penny Auction Express

    Entry Level Price
    $999.00 per One-time
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    Auction Software
  • BidGemmer

    The Best Auction Technology for the Diamond & Gem Industry
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    BidGemmer is the leading provider of auction software and tender technology for diamond and gemstone companies to easily administer auctions and tenders without the need for technical expertise. Our Software as a Service (SaaS) solution is fully web-based, allowing businesses to quickly customize and implement scalable, secure, and dependable auctions. Additionally, with BidGemmer you will enjoy ... learn more about BidGemmer

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  • E-Multitech Auction

    Lowest Unique Bid Auction Software
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    online auction script is developed using object-oriented programming language MVC (CodeIgniter), PHP, MySql, Javascript, Node.js, Ajax, and jQuery. We use a wide variety of tools and technolo-gies in order to ensure that the software performs at it’s best, with minimal fuss and minimal glitch-es. We have successfully tested and run all our low bid auction software, ensuring high perfor-mance and... learn more about E-Multitech Auction

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    15 days
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    Auction Software
  • PEARL BIDS

    Pearl Bids silent auction manager is the perfect tool to easily set up
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    Managing your silent auction can be difficult without the right software app. Pearl Bids will help you set up your auction and manage your donations, attendees, donors, and billing - quickly and easily. The only software that can be used for an unlimited number of auctions and donation items all for a low flat fee.... learn more about PEARL BIDS

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    $29 per One-time
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    Auction Software
  • 32auctions

    Host A Silent Auction
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    For Steve and Curt, 32auctions has come to represent something very important to them: Family. Steve has 3 children, Curt has 2 children, and 32auctions is a silent auction platform. Tying that together, they arrived at the name 32auctions. Steve and Curt created 32auctions to help people raise money for causes near and dear to their hearts. Helping others positively impact their cause was the ... learn more about 32auctions

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    Free version
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    Auction Software
  • Xpert Auction Software

    Our Online Auction Method Works!
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    Our team includes a dedicated group of professionals experienced in the Online Auction Software business and Estate Liquidation with over 20 years of experience. (total years in software engineering and online marketing experience). Together we have created the most complete “Online Auction Software" available on the market today. Our goal is to ensure the success of your Online Auction Compa... learn more about Xpert Auction Software

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    Auction Software
  • save wholesale... learn more about QuiBids

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  • Charity Auctions Today

    Great for schools, nonprofits, individuals and businesses.
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    Online and Mobile auctions are the fastest-growing way to raise money for your cause. Charity Auctions Today will help you launch your event into the 21st century. Quick and easy to get started Setup today and launch when you're ready Be eco-friendly and go paperless Manage everything from an auction dashboard Promote your event with the click of a button BUILD A DEMO AUCTION... learn more about Charity Auctions Today

    Entry Level Price
    $297 per One-time
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    Auction Software
  • Auction-Tracker

    The "Balanced" Approach To Benefit Auction Fundraising!
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    While benefit auctions are exciting and fun, their purpose is to raise funds in support of your organization’s mission. Behind any successful event is hours of planning, preparation and organization. Building on an events success requires the fostering of long-term relationships and strategic planning from event to event. Whether your event raises $25,000.00 or $25 MILLION dollars in one nigh... learn more about Auction-Tracker

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Buyer’s Guide

Introduction to the buyer’s guide for Auction software:

Auction is a popular way to sell merchandise as it can fetch unexpected payoffs to the auctioneers and the bidders. With digital advancement, buyers have a convenience to purchase merchandise from global auction houses and international sale events via virtual auction platforms. However, both the offline and the online competitive bidding mechanism comes with a lot of challenges that need to be overcome. For example, issues related to online auction frauds, transparency in bidding, the efficiency of the auction process, operator manipulation, etc. need to be addressed efficiently to conduct a successful auction. 

Here, the auction technology comes as a savior, and it helps auctioneers and buyers to get rid of all possible hurdles in the auction process. However, the benefits and effectiveness of auctioning may differ due to selecting a particular auction platform or auction software. Selecting a standardized auction software with all features required for auctioning is a challenging task even for the most seasoned auctioneers. Therefore, this buyer's guide aims to guide auctioneers to select the best auction software tool for their business by providing a detailed analysis of all factors such as price, types, features, and functions to consider before investing in an auction management solution. 

What is an Auction?

An auction is a sale event where buying and selling of goods and services occur. Auctions can take place in both; online and offline platforms. Unlike other transactions, an auction works for products and services by offering bids, taking bids, and finally selling it to the highest bidder or buying it from the lowest bidder. Bidding can happen in an open or a closed format:

  • In the closed format or the private auction, such as contracts for construction, bidders are not aware of competing bids. Bids are invited beforehand, and the one who has submitted the lowest bid gets the deal.  
  • In an open auction, such as a livestock auction, property sale, item sales, and others, bidders are aware of the bids by other participants. The participants are allowed to increase their bids continuously until the final bid takes place, and no one is willing to quote a higher price than the ‘last bid price’. 

What is the purpose of an auction?

Selling goods and services

An auction is an economical process whose primary purpose is to allocate goods and services via a bidding process. Auction is a win-win situation for all the parties involved- the buyers, sellers, bidders, the auctioning agency, etc. 

Effective and profitable method of trading products

Also, auctions are perceived as a potentially efficient mechanism for trading and buying of goods and services. They are used for various products, but, particularly, for rare, expensive goods, which are hard to price. For instance, the whistle used by the officer in the Titanic boat that got drowned in 1912 AD had a pre-sale value of upto $3788. The painting made by Pablo Picasso in a single day span in 1932 got sold for a whopping $106.5 million

Charity purposes

There are charity auctions conducted every year by popular museums that donate the auction income for charity purposes. Auctions have also been made a seamless experience with the emergence of the internet, making online bidding possible.

What are the different types of auction?

Based on the bidding conditions:
Minimum-Bid Auction

It's also at times called a minimum published bid auction. In this type of auction, the feeblest agreeable amount is decided by the sellers and the auction firms. The minimum amount is then declared in all the marketing matters. The items cannot be sold before the bidding approaches the minimum amount. Buyers can buy at or above the minimum-bid auction. 

Absolute Auction

Absolute means the highest bid wins. Price is not taken into consideration in an absolute auction. It is riskier for sellers as items may fetch any price depending upon the bidders. However, it is also very profitable as bidders' competitive pricing may take high levels. 

Reserve Auction 

In a reserve auction, the seller holds the right to either accept or reject the highest bid. The owner reserves all the rights to sell the property. However, the predetermined price is not disclosed to the public. 

Sealed Bid Auction

In this type of auction, all bids are kept confidential. Typically, they are submitted to the agent and then inaugurated at a proposed time and place. The benefit here is a fair game, and the highest or lowest bidder wins the deal. 

Based on the mode of conduct:

Live Auction

Live auction is the on-site auction that takes place in auditoriums, hotels, or closed spaces where participants are physically present at the auction site. 

Online Auction

Online auction is a virtual auction that takes place over the online platform, and participants bid online using the functionality of auction software.

Also, other popular types of auctions are:

English Auction

In the English Auction, auctioneers provide a suggested opening bid price and the reserved price for the merchandise. Also known as open cry ascending auction, the English auction accepts higher bids as they come. 

Dutch Auction

The Dutch auction, often followed by the IPOs (Initial Public Offerings), is a process that averages out higher bids until the entire stock is covered up. The auctioneers lower the prices to accommodate all items, and then all bidders receive the items as per the cut off price. Those who bid below the cutoff price don’t receive items. 

Sports Auction

Recently popularized sports auctions have received tremendous response among the bidders and the auctioneers. Sports auction refers to the selling of sports goods, or sportsperson playing for a team. Team owners purchase their players by participating in an open auction.  

Key terminology associated with the Auction Process:

Bidding/e-bidding: 

Bidding or e-bidding is to put the best price card forward for purchasing or selling something. In simple terms, when a buyer and seller takes part in an online or offline auction event, the one who bids the maximum for that commodity or lowest for service is allowed the deal. E-bidding is the process of bidding through an electronic medium.

Buyout Price: 

In the financial world, a buyout is mainly an investment transaction by which the maximum share of the corporation's stock is procured. However, buyout terminology in auction depicts where the seller determines a nominal price at which participants can buy the item. Today, most of the auction sites list their products with a buyout price available for the bidders. 

Appraisal:

In the auction, an appraisal is the potential value of an item as perceived by the auction house. It is taken into consideration through a valuation process by comparing the products with other similar products in the market. It is done to determine the ‘fair value’ of a product.

Online Auction:

An online auction is a virtual process where interested bidders can participate in buying or selling items.  The selling and bidding of the commodities are done via an online auction platform.  The auction platform is a virtual medium to sell goods and raise bids. It entirely facilitates the complete auction process for participants. 

Absentee bids:

An absentee bidder places a bid beforehand with mutual agreement with the auctioneer before the auction begins. In short, it's the practice of making a bid even in your absence. Such requests can be submitted in a written or verbal format, depending on the terms and conditions of the auction house.  Though the auctioneer is aware of the bidder's bid amount, they do not disclose it at the auction until the price point reaches the absentee bidder's quoted price. 

Hammer Price:

Hammer price is the highest price at which the auction comes to an end. The winning bid is announced when no one is willing to bid anything higher than the amount, it is when the auctioneer's hammer falls, which determines that the service or commodity has been traded. However, it determines the sale price but does not include the buyer's premium. 

Buyer’s Premium:

In auctions, the buyer's premium is a cost above the hammer price of an auction item. The winning bidder is supposed to pay both the hammer price as well as the buyer's premium charged by the auctioneer to satisfy administrative charges. The buyer's premium goes directly to the auction house and not to the seller. For example, Christie's (world's biggest Auction House) buyer's premium ranges from 13 to 30% of the total sale value. It made history when it sold Salvator Mundi by Leonardo-da-Vinci for $450 million, thus receiving one of the highest buyer's premiums ever on a single item sale.

Auction Process: Then and Now. How has the auction process changed over time?

The word 'Auction' has etymological roots in the Latin language where 'auctus' means 'increasing.' The word is as old as the 5th century BC. The earliest known auctions were conducted in Greece and Rome where the usual items for sale were slaves, war spoils, and debtors' assets. Many years later, in 1674 AD, the first modern auction house got established in Stockholm, Sweden. A few years later, one of the world's largest and internationally acclaimed auction houses- The Sotheby’s Auction House was established in 1744 AD. The buyers' desire to purchase attractively priced items, the natural urge to compete, longing for antique and rare items, and the thrill of the bidding process have kept the auction houses flourishing since the seventeenth century.

With the advancement of technology, auction houses have undergone a sea change and have become more profitable and globally recognized. With the advent of online auction platforms in 1995, the auction houses have been able to reach wider buying public and have successfully eliminated the physical constraints of live auctions such as geographical barriers, physical presence, time constraints, etc. 

The traditional/offline auctions are planned well before running it live. It usually requires up to three-four weeks in advance to set up before the auction day. The principal idea is to own enough time in the hands of the organizer to research, hit the bid option, or determine the participants and the rules. 

On the contrary, online auctions essentially cut down the time significantly due to automation and quick accessibility on various parameters. 

What are the challenges faced by auctioneers?

Listing and selling your commodities at an online auction platform comes with many risks and challenges. The foremost risk is the risk of online scams and hacking of valuable data.

Let us see in detail:

Malware risks and online frauds

Online auctions make auctioneers' lives much more comfortable. It also allows them to ease the whole process of trading. However, online scams and breaches that may occur often cause a huge loss to auctioneers. Even after analyzing all the preventive measures, there are attempts by hackers to steal valuable data, especially when it comes to rare and antique items.

Badware, also known as malware or spyware- infects the computer systems in various ways like- Infected sites, memory sticks, or digital pictures or frames for that matter. It might pop up as an irritating notification and unwanted advertisements promising cheap and unrealistic schemes to fraud your participants on your name.  

It can also happen in the absence of your knowledge and circulating your data to a third party. Sometimes the intensity of the cyber-attacks increases to a level where it can even tap to attack financial and government institutions. The hackers will lower the price or change the price structure to cheat the auctioneers. This mostly happens when there are thousands of listed items by a particular auction house. To be cent percent sure, it is highly advisable to use a reliable auction software that encrypts data and has continuously updated firewalls. 

Other Challenges:

Registration issues

Often bidders get rejected due to incomplete information in the forms. It is a loss to auctioneers as any rejected bidder may be a high-profile bidder. 

Listings of products:

The enormous amount of items up for sale in auction makes it challenging to record all items and prepare an error-free list of all items. 

Bidding manipulation issues

Sometimes, unscrupulous operators may play in connivance with each other to manipulate pricing and the bidding process. It may cause a huge loss to the auctioneers or legitimate buyers.

Payment issues

As proceedings from auctions are enormous in value, auctioneers need to ensure a proper payment mechanism is at place to take care of payment-related issues.

What is Auction Software?

Auction software is a  utility and individual program for the process of auctioning. Auction Software is a buying and selling platform designed to aid the auctioneer community. Through the web and its mobile apps, Auction software assists users in setting up their online marketplace by implementing features developed for different auction types. The software intends to grow businesses by connecting auctioneers, customers, clients, service providers, bidders, sellers, merchants, and buyers. It provides all tools required for organizing, managing, and conducting an effective auction event.


 

What are the benefits of auction software?

Easy Management of the Auction and secure process

Auction software has tools to manage a live auction event. It ensures proper planning, live recording, item allocation, execution,  and tracking of the auction. It mitigates issues of fake bidding, manipulated bidding, online scams, etc. by continuously monitoring the process with its security features. 

Bulk Upload of All The Products: 

Upload all your items in the store with CSV file format that eliminates the manual work and uploads all the products at one go. With this feature, the difficulty of manually uploading pieces and posting them on auction stores is reduced.

Automatic Bidding Functionality: 

Bidders can set up auto-bid functionality and set maximum bid limit, the starting price of the bid, and the time interval to adhere. Bidders need not always follow an auction before placing a bid. This feature helps bidders and enables them to bid even when they are busy. 

Set-up Unlimited Membership Plans: 

If you are running an auction marketplace then you would be able to monetize the auctions on your website by allowing bidders to register as paid members.

No Geographical Constraint

Using online auction software is advantageous as you can create, organize and  participate in the auction process remotely by sitting at your convenient place. 

No manual work

Rather than trying to manage an auction via paper and pen methods, a good online auction software provides a simple solution for the organizations to easily set up the auction automatically with few clicks.

Pre-register facility

Participating bidders can either pre-register or register on-site and manage all the inventory listings in the software database before the event. 

Simplified Checkout

Auction software helps to simplify the process of checkout after an auction closes. With the help of suitable tools, administrators can quickly prepare the documents of sale as well as handle the payment transactions through online payment or credit card swiper, whichever is convenient.

Real-time bidding

Auctioneers can see real-time bidding information on their dashboards with this functionality of the auction software. 

How can auction software help in conducting different types of auctions?

1. Assists in identifying and listing the best products

Auction software helps auctioneers in picking the best products based on past experiences and selling trend analysis. Analysis reports from auction software can help auctioneers to determine:

  • Is the product unique or antique based on data records?
  • Can the products be sold in volumes?
  • Is there enough demand for the product?
  • Is the competition to buy that product in abundance?
  • What kind of profit margin are you expecting, is it reasonable?

2. Helps in categorization and identification of bidder’s interest

Auction software can automatically create categories to list products, and this eases the sale process. It also helps the buyers and participants browse through the product categories listed on auction websites and check out how much the current price on bidding is going on and on what particular products? 

Auctioneers can search for related and relevant products, discover which ones sell the highest, and recognize which categories they fall into. Based on the browsing records of bidders, auctioneers can have some idea about the trends, likes, dislikes, and the behavior of potential bidders. They can keep a note of it and try incorporating the analysis when they try selling their  listed items.

3. Create a marketing plan

Auctioneers can create Ad and marketing plans with the help of the auction software tools. Auction software provides all features for branding, emailing, and third-party ad integration to enrich items' visibility.  Auctioneers can attract more traffic to their website by posting banners or links to their site in the ads.

4. Gain better feedback ratings

The most loyal way to prove yourself a dependable and responsible auctioneer in an online auction is by having an excellent feedback rating.  If you're not honest, it will reflect in your reviews and warn other buyers to stay away from your products. However, if you have a positive rating, you can increase your sales by a considerable amount.

Auction software helps  auctioneers  get a good feedback rating:

  • Integrates with logistics partners to help them deliver products in a stipulated time frame or sooner
  • Helps them answer buyers' questions or queries promptly with real-time reminders of customer queries.
  • Automatically follows up with bidders for feedback on the auction process, the quality of the product, which will ensure great customer satisfaction.

5. Helps in revising  listings without the hassle

You should periodically be testing and revising your auction listings. Even if they're doing fine, you may discover that minor modifications can significantly improve sales. Instead of relying only on one site, post on multiple websites, and observe what works and what doesn't. 

Auctioneers can tweak these elements easily with an auction management software and see the results for each change-

  • Commercial copy and photos
  • Pricing
  • Timing
  • Several products

How can you build an auction marketplace using an auction software?

Auction Software is a tool that helps users to set up their online auction marketplace. The software targets to grow and develop businesses by connecting clients, vendors, service providers, freelancers, bidders, buyers, and sellers. With auction software tools you can launch a marketplace website for auctions. The marketplace website will help you attract buyers in any auction market. With its tools you can:

  • Add your own categories and list items 
  • Add, and modify bid prices 
  • Mention and change reserve price
  • Add item images and descriptions

Who can use auction software?

Ecommerce Sites:

Ebay, earlier known as auctionweb, made an empire in auction-related sales. E-Commerce businesses can deploy auction software to sell products in auctions. 

Art Houses and Exhibition Galleries

Post-war and contemporary art sales accounted for 2.26 billion U.S dollars in the first half of 2019.  Art Houses and exhibition galleries constantly conduct auctions for their business, and therefore auction software can help them in inviting guests and connoisseurs of arts, create tickets, manage the product catalog, invoicing, etc. 

Government Agencies

Government agencies often have to invite bids for various contracts. They can use the functionalities of free live auction software to expedite their auctions.  

Banks

Banks have to often auction the bankruptcy proceedings and assets from the delinquents. They can use auction software to streamline and automate the process and to fetch the best possible value for their assets. 

Real-Estate

Real-Estate auctions are very common for selling properties and conducting land-sales. Real estate sellers can use auction software for a complete listing of property information and allow buyers to participate in an ongoing auction process.

Professional Auctioneers

Professional auctioneers who buy and sell antique items, heritage valuables, artifacts, etc. can also deploy auction software to increase their reach and increase profitability. 

Sports authorities

Sports authorities and sports clubs who buy sports persons and sports items can also deploy auction software to manage their auction process effectively. 

What are the key features of an auction software?

Payment protection system

Auction Software uses the Escrow payment protection system, which is available in its project management functionality. In this system, the bidder has to deposit some funds to an Escrow account before the bidding starts. For example, before the bidding starts, a security amount is deposited in the Escrow amount by the participants to make sure that the participant transacting can make a payment for the auction bid. 

Multiple Payment Gateway Support

Auction software supports multiple payment gateway support for fast and secure payment processing. Clients can make online payments through any preferred online portal. 

Listing products

Auction software provides a vast range of options, including- Listing Duration, Out of Stock Control, Price monitoring, Best Offers, Immediate Payments, Auction Start Price, Buy It Now Price, etc. You can customize every requirement as per your feasibility. However, an auction platform does not allow you to have an option of "Out of Stock" as you cannot have an out of stock, yet active, auction. 

Guest Management

Records of guests, table arrangement plan, walk-in guest management, sponsor guest management, remaining table space in real-time, etc. are features of this module.

Bulk storage

It allows users to upload the bulk of their items to store them. It decreases the burden of manually uploading items and listing them on their store. Users can create a CSV file that contains product data and descriptions. 

Templates

Auction software offers ready to print auction material and collaterals often used in auctions such as bidding sheets. 

Online Tickets and sponsorship sales

Auction software integrates with your website or offers a separate portal where potential bidders and interested sponsors can buy online tickets to your auction. If your auction is completely open and free, bidders and sponsors can register themselves with this feature. 

Reporting

Auction reporting regarding the number of auctions conducted, items sold per auction, number of attendees, etc. 

Auction Layout

Administrators can organize the layout of the online auction by product category, starting bid prices, buy options, and featuring items for sale, sponsors, etc. with help of the online auction platforms.  Moreover, they can upload pictures and images with descriptions of sale items in a template ready fashion.

Some other features of an Auction Software are as follows:

  • Feedback and Reviews
  • Email Management
  • Bid History
  • Automatic bidding
  • Social media login functionality

How to choose the best auction management system?

Consider the following factors about the auction software you are planning to purchase:

  • Does it provide all essential features as required for an effective auction?
  • Can it work smoothly with low bandwidth internet connectivity?
  • Is the system scalable to accommodate more products or bidders?
  • Is the online auction system compatible with all devices such as desktops, laptops, tablets, and mobile phones? 
  • Whether the auction platform provides a safe payment mode and encryption to prevent any security breach while the auction is on?
  • Is the software user-friendly, sophisticated, and easy to use?
  • Does the software vendor provide 24/7 customer support?
  • Does the auction software vendor provide a free version, live demo, or free trial of its functionalities?
  •  Are any hidden costs, installation, and training charges? 

What is the average cost of buying auction software?

The costs of  the best auction software depend on a large number of factors such as:

  • Features it offers
  • Type of installation required: Cloud-based, Web-based, on-premise software, or open-source.
  • User interface and experience
  • The type of automation it offers
  • The number of auctions it can manage 
  • The number of devices it can work upon simultaneously
  • Quality of service and user support offered 
  • Privacy and the data encryption it provides 

These variations can significantly alter the pricing estimations of the auction software. 

The complete plan of ReadySetAuction will cost you around $1999 a year, the select plan will cost $1499 a year, and the essential plan costs $1099 a year.

Auction management software such as  Handbid will cost $2495 a year for its premium plan, and $1295 a year for the basic plan.  Virtual event solutions by PHP Pro Bid comes for $321.34  for its lifetime license. 

Another popular pricing method is the percentage-based method—auction software vendors such as SimpleAuctionSite charge 4-5% on gross sales per auction.  

If you are looking for free auction software, then Dealer Simplified and BiddingOwl offer free versions of auction software with limited feature plans. If you need a free and open source auction software then go for Bidhub. For other online auction software such as bidJS, Rainworx, Auction-Experts, Nextlot, Auctioneer, Bidpath, and many others, you need to contact the vendor for detailed pricing. Get the updated list and complete information from the GoodFirms auction software page. 

Why refer to GoodFirms’ list of auction software?

GoodFirms is one of the leading pioneers of Information Technology market research providing buying assistance to B2B IT service seekers. GoodFirms relies on diligent research and methodical analysis of the IT products and services to equip buyers with the best insights of thousands of IT services and products. GoodFirms offers a comprehensive listing of more than 9000 software products and services and 15000 extensive reviews from verified users. GoodFirms analysis, combined with humongous customer reviews, can help buyers understand the usage, features, brand reliability, merits, pricing, and many more aspects of the listed technology products and services. 

The readers of this buyer's guide for auction software are advised to navigate the list of thoroughly researched best auction software solutions that provide immense features and best services to manage auctions.  You can also read auction software reviews here.