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.
List of Auction Software | Online Auction Software
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 ... read more about Handbid$695.00 Per YearN/A100% in Auction Software
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 ... read more about SchoolAuction$1000 Per Year30 Days100% in Auction Software
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 ... read more about Silent Auction Pro$99.00 One-time7 Days100% in Auction Software
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. ... read more about bidJSContact vendorN/A100% in Auction Software
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 ... read more about Auction Software$50 Per MonthN/A100% in Auction Software
Since 1997 Maxanet has been the industry leader for auctioneers and business owners. This comprehensive set of tools addresses all aspects of conducting online auctions. See why 100’s of clients appreciate this full-featured and affordable auction software. Maxanet can help you streamline your business and take your sales to the next level. ... read more about Maxanet$125 Per MonthN/A100% in Auction Software
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, ... read more about Auction Flex$20.00 Per Month30 Days100% in Auction Software
NextLot, a fast-growing Raleigh, North Carolina based online auction software company, was founded in 2007. It has been revolutionizing the way timed-online and live webcast auctions are being run for auctioneers. The NextLot Advantage™ is the fundamental difference between our organization and the competition – it’s what separates us, defines us, and sets us apart. It’s the understand ... read more about NextLot AuctionContact vendorN/A100% in Auction Software
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 ... read more about PHP Pro Bid$334.88 One-timeN/A100% in Auction Software
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 ... read more about WavebidContact vendorN/A100% in Auction Software
White Labeled Website with your bradning. Auction System Creating and Managing Auctions Item managment with photo uploader. Buyer and Seller Managment Invoicing Reporting Run Timed Auctions (eBay Style) Live Auction Bidding Proxy Bidding ... read more about AuctionerContact vendorN/A100% in Auction Software
Auction-Experts offers you unlimited possibilities with a wide range of functionalities.
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. ... read more about Auction-ExpertsContact vendorN/A100% in Auction Software
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 ... read more about BiddingOwlFree versionAvailable100% in Auction Software
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- ... read more about RainworxContact vendorN/A100% in Auction Software
Raise more and reach more donors with OneCause Fundraising Software. Day in, and day out, we put your cause at the center of everything we do. Our easy-to-use fundraising solutions and experience gleaned from 20,000+ fundraisers, we give our clients the freedom to focus on what truly matters: advancing their organization’s mission. Located in the technology hub of Indianapolis, OneCause has been ... read more about OneCauseContact vendorN/A33% in Auction Software
RallyUp provides charities, schools, and other organizations with an online platform to run next-generation fundraising experiences that help them further their causes in significant ways. A home base for all your fundraising. Grow donations and your community all year long ... read more about RallyUpFree versionAvailable50% in Auction Software
Welcome to ClickBid's LinkedIn Company Page! We will post updates about our products and services as well as job postings and other content that we think our customers and those in the fundraising event industry would find interesting and useful. We are also interested in connecting with companies and professionals looking to improve the efficiency and effectiveness of their fundraising events. ... read more about ClickBid$795 Per YearN/A50% in Auction Software
Live Auction Group has grown into an internationally recognized enterprise. We specialize and excel in coin auctions, vintage antiques and collectibles, heavy equipment, Hollywood memorabilia and movie props, fundraising events, livestock, firearms and hunting items, business liquidations, Native and western collectibles, and so much more. ... read more about Live Auction GroupContact vendorN/A100% in Auction Software
Welcome to Artisio! A new concept in client-first, bespoke, complete front-to-back cloud-based auction management CRM, CMS and BDM designed for the next evolution of online auctions. Intelligent, cloud-based technology and high-performance AMS (Auction Management System) delivers powerful front-to-back functionality across mobile and desktop platforms, from inventory management and a versatile CRM ... read more about ArtisioContact vendorN/A100% in Auction Software
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 ... read more about uBidAuctionContact vendorN/A100% in Auction Software
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 ... read more about SimpleAuctionSite$300.00 Per MonthN/A100% in Auction Software
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. ... read more about Solid II$599 One-timeN/A100% in 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 ... read more about AuctionMethod$150.00 Per MonthN/A100% in Auction Software
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 ... read more about NextLotContact vendorN/A100% in 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. ... read more about ReadySetAuction$1099 Per Year15 Days100% in Auction Software
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 ... read more about Auction mobility$500.0 One-timeN/A100% in Auction Software
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 ... read more about Auction EdgeFree versionAvailable100% in Auction Software
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., ... read more about AuctioneerContact vendorN/A100% in Auction Software
Bidpath Acquire Leading European Auction Technology Provider in Strategic Expansion
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 ... read more about BidPathContact vendorN/A100% in Auction Software
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 ... read more about Woo Auction SoftwareContact vendorN/A100% in Auction Software
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 ... read more about Maestro SoftwareContact vendorN/A100% in Auction Software
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. ... read more about XpertContact vendorN/A100% in Auction Software
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 ... read more about AuctionAnything.com$295.00 Per YearN/A100% in Auction Software
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.
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:
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 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.
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 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 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:
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.
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.
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 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.
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.
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.
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.
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 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.
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.
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.
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 softwareis 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.
Participating bidders can either pre-register or register on-site and manage all the inventory listings in the software database before the event.
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.
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
- 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?
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 often have to invite bids for various contracts. They can use the functionalities of free live auction software to expedite their auctions.
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 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 who buy and sell antique items, heritage valuables, artifacts, etc. can also deploy auction software to increase their reach and increase profitability.
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.
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.
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.
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.
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.
Auction reporting regarding the number of auctions conducted, items sold per auction, number of attendees, etc.
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.