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Online auctions are one of the most popular eCommerce models because of their high profitability. In 2021, eBay, the most popular online auction platform, earned $10.42 billion. When the first version of your auction website is ready, you need to set up a server and make your website live. Depending on shared technical requirements, developers may help choose the best option to launch your site. There are a lot of different technologies that can be used to build an auction website. Today, you do not only have to compose online auction HTML code along with CSS and JavaScript to develop the front-end.

It is easier, faster, and does not require the person to physically be present. To ensure that all the features work correctly, software engineers need to perform coding and unit testing after creating an auction website. Also, QA engineers need to perform manual or automated testing. Also, it can help you highlight severe bugs and security issues. Anna Klimenko is a market researcher and author at Greenice with a deep technical writing background. She scrupulously investigates narrow business niches and creates insightful articles for entrepreneurs who are trying to start online businesses.

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It’s hard to say how long you’ll work to create the next eBay, but it’s important to understand how fast you want to launch the first version. A minimum viable product, or MVP, is a working product that you can present to your target audience. An MVP includes only the basic features that solve your customers’ main pain points. According to the feature list we discussed in the previous sections, an MVP for a marketplace like eBay might have around 15 features.

You can even set a buy now price, and a minimum bid listing price. With the paid version of the plugin, users can setup an account, bid on items, and even post their own. You’ll also notice an array of pricing options, regardless of the version you have. Some examples that immediately come to mind include, creating an auction website that allows you to run a charity auction for select items. These are usually high end goods that people can bid on, and range from expensive trips, to upscale artwork.

Highly Customizable

The experts have experience in auction site development, and they would know what type of coding or color scheme works well. EBay is an online auction company started by Pierre Omidyar in California on September 3, 1995. Apparently, this auction was just a hobby for Omidyar which Remote Hiring Guide: How to Ace a Remote Hiring Process? turned out to be a major source of income. Soon it became a popular website to sell and buy things online. It’s advisable to create website design documentation while developing your auction website. Properly prepared documentation facilitates the work of software engineers.

You can follow eBay’s example and use several approaches to make money. EBay charges sellers an insertion fee, a final value fee that’s a percentage of the transaction value, and a fixed $0.30 per order. For some categories, eBay also offers a classified ads option for $9.95 a month.

Charity Auctions Today

This auction type is named after William Vickrey, winner of the 1996 Nobel Prize in Economics. Greenice is a Top Rated web development agency established in 2007. Peak auctions are the auctions that only operate for a limited number of hours or days in a week. Reserve Price AuctionsFix a reserve price for each article at which can be sold. For the sake of example we’re going to assume you went with the Ultimate WordPress Auction plugin. But, you can follow the general outline of steps for any plugin that you decide to download.

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