People are using mobile apps to streamline processes and improve convenience worldwide. This has revolutionized how we work, relax, and do e-commerce. As a result, the demand for intuitive, efficient mobile apps is rising, and businesses are taking advantage of it. This keeps companies ahead of their competition and satisfies changing customer needs.
Emirates Auction is an excellent example, which enables customers to purchase luxury automobiles and real estate through an online bidding system in the Middle East. According to estimates, there will be $2,506.13 million in online auctions by 2027, a growth rate of 11.35%. It has been a huge success, and its growth has been phenomenal.
Have you ever wondered how much it would cost to develop an app similar to Emirates Auction? Well, there are a lot of factors to consider when you are developing an app. In this article, we will explore the factors determining the cost of building an app like Emirates Auction.
Overview – Emirates Auction
Emirates Auction is an app where people can buy different things, such as cars, houses, and luxury items. It is similar to an online store where individuals bid on items they wish to purchase, and the bidder with the highest bid wins.
A look at the Emirates Auction App’s features
- Product categories – The Emirates Auction platform lets people buy and sell various things, including automobiles, real estate, jewelry, electronics, and more.
- The bidding process – Users can bid on items they are interested in, and the highest bidder wins the item at the end of the auction.
- Auction types – Besides real estate auctions, Emirates Auctions offers a variety of other types of auctions, such as those for unique plate numbers and standard plate numbers.
- The live auction – The platform occasionally hosts live auctions and exciting events where participants can bid on items in real-time.
- A secure payment system – To ensure the safety of transactions, Emirates Auction has a secure payment system integrated into the platform.
- Location-based services – The location-based services provided by Emirates Auction assists people in finding auctions in their desired area.
- Property listings – Emirates Auction offers real estate auctions, allowing users to transact in real estate apart from physical items.
Cost estimate for developing an Emirates auction-like app
It’s easy to estimate how much auction app development in Dubai will cost based on three levels of complexity: basic, moderate, and advanced.
- Basic App – The cost of developing a basic app can range from $50,000 to $70,000, and the timeline is three to six months.
- Moderate app – The development budget for a moderately complex app will be between $70,000 and $120,000, and the timeline will be between six and nine months.
- An advanced app – Considering this app has advanced features and functionalities, it can cost between $120,000 and $200,000, and development can take nine months.
The maintenance of your app is important so that it operates properly and remains secure. It usually costs between 20% and 50% of the initial cost to build. You should consider paying legal and licensing fees if you also require patents or trademarks.
Factors affecting costs for developing an app like Emirates Auction
- Platform selection
When creating an app like Emirates Auction, picking the right platform is essential. It’ll decide how much you’ll need to spend. If you want to make an app for iOS or Android, it’ll be cheaper than if you want to make it for both. But if you want to make a lot of money, cross-platform apps are the way to go. If you’re trying to save money, check out Flutter.
- Complexity of the app
The auction app can be complicated, driving up the development cost. If you want to create an app with many cool features like real-time bidding, different auction types, and payment integration, it will cost more than a basic app with limited features. In simple terms, the more complex the app, the more expensive it gets.
- UX/UI Design
Auction apps need to look good and be easy to use. If they aren’t, people won’t want to use them. To make a successful app, you need a team of experienced developers to design it. This can cost a lot of money, but it’s worth it if you want something like Emirates Auction.
- Company’s location
When building an auction app, remember to consider the location of your development team. If you choose a company in the US, the cost will be higher than in other countries like Dubai. So, keep that in mind while making your decision.
When making an Emirates Auction-like app, there are three ways to go about it: hiring a team, outsourcing, or finding freelancers. Going in-house can be a headache with all the recruitment and training that needs to be done. On the other hand, working with freelancers can be tricky with time zone differences and their work schedules.
If you’re looking for the most skilled developers worldwide at a reasonable cost, outsourcing to a reputable mobile app development company in Dubai is your best bet. At Apptunix, our developers have experience making custom apps for any industry. We guarantee quality work and provide excellent customer service.
- Staying legal and compliant
The security of all kinds of apps is paramount, and auction apps are no exception. An auction app must adhere to regulations, laws, and other requirements to protect user’s private and financial information. You should spend more on creating a top-notch auction app if you follow all the rules and ensure everything is secure.
What’s the business model for platforms like Emirates Auction?
You can make money with an auction app, but you must manage it correctly. Here’s how:
- Seller charges
When a sale goes through on the platform, the owners take a cut from the seller’s earnings. This cut can be either a fixed amount or a percentage, ranging from 3 to 10% of the sale price.
- An advertisement
Sellers can promote their products at the top of search results with paid ads. Through promoted listings, sellers can make their products more visible, which benefits everyone.
- Insertion fee
Sellers must pay a fixed amount to sell their goods on the platform. The fees they pay depend on the number of listings or categories they want to list their products. A seller must pay an extra fee to sell products in multiple categories.
Apptunix: Leveling Up Your Business with Powerful Apps!
Investing in developing an app like Emirates Auction can be a smart move for businesses looking to benefit from the growing economy in the Middle East. If you’re interested in creating a similar app or something like it, our mobile app development company in Dubai can help.
At Apptunix, we’ll help you turn your brilliant ideas into reality from start to finish. As a well-known mobile app development company in Dubai, we’re skilled in using advanced technologies to create innovative solutions for businesses of all kinds.
Let’s work together to bring your ideas to life and take your business to the next level!