Biddit

What Biddit does

Biddit operates an online B2C live auction marketplace in India, allowing individual bidders to compete in real-time auctions across categories including watches, jewellery, art & prints, electronics, collectibles, vintage items, sneakers, and mystery boxes. The platform is built by Biddit Technologies Pvt. Ltd., incorporated in Jaipur, Rajasthan, and currently operating in Beta. At the time of analysis, Biddit claims approximately 10,000+ verified bidders, 500+ approved sellers, and ₹12 Cr+ in successful bids across the platform.

The technical foundation is a WebSocket-based real-time bidding engine that pushes instant price updates to all participants. Distinctive product features include an anti-sniping mechanism that automatically extends auctions by two minutes when bids arrive within the final 60 seconds (up to a maximum of five extensions), a proxy bidding system that automates bidding up to a user-set maximum, and Razorpay-secured deposit holds that gate participation to financially committed bidders. Authentication is handled via Firebase/Google sign-in, and fulfillment is integrated with Shiprocket for shipping and tracking.

Revenue is structured as a marketplace take rate on completed auctions, supplemented by non-refundable seller security deposits (5% of reserve or starting price) forfeited only on policy violations, and bidder pre-registration deposits (typically 10% of starting price) held via Razorpay. Onboarding is intentionally friction-free — registration is free, no credit card is required, and KYC is described as instant. Customer segments are horizontal: individual collectors and hobbyists on the buy side, and individual sellers plus small businesses on the supply side. Distribution is self-serve PLG via the biddit.in web platform, with no mobile app, no disclosed paid acquisition, and operations restricted to India-only with INR payments.

Name

Biddit

Legal name

Biddit Technologies Pvt. Ltd.

Website

https://biddit.in

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Biddit operates an online B2C live auction marketplace in India, enabling real-time WebSocket-based bidding on watches, jewellery, art, collectibles, vintage items, sneakers, and mystery boxes. The platform serves verified individual bidders and sellers via Razorpay-secured deposits, anti-sniping protection, and proxy bidding.

Ownership category

akta.pro rank

Product category

Online Auction Marketplace

NAICS

Used Merchandise Retailers (459510), Art Dealers (459920)

SIC

Retail-Catalog & Mail-Order Houses (5961)

akta.pro primary industry

Auction-based Generalist Marketplaces (CRAFAAAC)

akta.pro secondary industry

Auction Houses (Luxury Watches & Jewelry) (CRAKAKAF)

Keywords

• Live auction platform
• Online auction marketplace
• Real-time bidding
• Collectibles marketplace
• E-commerce auctions

Headquarters

HQ city

Jhunjhunu

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Auction Transaction Fees: Platform charges service fees on completed auctions. The winner pays the final bid amount, and the platform retains a portion as fee.
2. Seller Security Deposits: Sellers pay a 5% security deposit (of reserve or starting price) before auction goes live. Deposit is released upon successful completion but forfeited for policy violations.
3. Pre-Registration Deposits: Bidders place deposits (typically 10% of starting price) via Razorpay hold. Deposits apply to final payment for winners; refunded to non-winners within 5-7 working days.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Biddit operates a live, real-time online auction marketplace that connects individual sellers with verified bidders across India. Auctions are conducted via a WebSocket-based bidding engine with anti-sniping time extensions, proxy (auto) bidding, and Razorpay-secured pre-registration deposits. Listings cover watches, jewellery, art, electronics, collectibles, vintage items, sneakers, and concealed-identity Mystery Boxes, with each item (except Mystery Boxes) verified by Biddit's team before going live.

Product overview

Biddit operates as a unified live auction platform with the core Biddit Platform serving as the main marketplace. The platform includes built-in features like Anti-Sniping Protection and Proxy Bidding System that power fair real-time auctions. Mystery Boxes represent a specialized sub-product category with concealed product identities. Pre-Registration Deposits provide the financial security layer managed through Razorpay. Users can browse auctions across categories including Watches, Jewellery, Art & Prints, Electronics, Collectibles, Vintage, Mystery Boxes, and Sneakers.

Differentiator

Problem solved

Functional benefit

Products and services

• Biddit Live Auction Marketplace
• Mystery Box Auctions

Quantifiable outcome

• ₹12 Cr+ in successful bids
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

One partnership is on record.

• RazorpaycoreTechnology or IntegrationPayment processing and deposit hold management. Biddit uses Razorpay for pre-registration deposit holds (typically 10% of starting price), seller security deposits (5%), and winner payment processing. All payment data is handled by Razorpay; Biddit does not store card numbers, UPI IDs, or bank account details. Deposits are automatically released to non-winners within 5-7 working days.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Regional players

• OLX India: India's leading C2C classifieds marketplace for used goods. Comparable Indian market presence and pre-owned goods categories (electronics, vehicles, etc.), though operates via classifieds rather than live auctions.

Direct peers

• Catawiki: Online auction platform for collectibles, art, jewellery, watches, and vintage items in Europe. Closely comparable curated auction model across multiple categories with verified sellers.
• StockX: Live bid/ask marketplace for sneakers, watches, electronics, and collectibles. Comparable product categories and real-time bidding model, though StockX is more sneaker-focused and global.
• Chrono24: World's leading online marketplace for new and pre-owned luxury watches. Directly comparable to Biddit's watch category with auction and fixed-price formats targeting collectors.

Broad incumbents

• eBay: Global auction-based marketplace pioneer. Comparable as a generalist online auction platform with consumer-to-consumer bidding, although eBay operates at vastly greater scale and breadth than Biddit.
• The RealReal: Online luxury resale marketplace for authenticated pre-owned items. Comparable consumer-facing luxury resale model, though more fixed-price than auction-based.
• Sotheby's: Global luxury auction house for fine art, jewellery, and watches. Comparable for the watches, jewellery, and art categories Biddit serves, though Sotheby's is high-end B2C and operates globally.

Others

• Lyst: Global fashion and luxury marketplace aggregating listings from retailers. Adjacent comparable in serving luxury/fashion shoppers online, though not auction-based.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BidWithBiddit
• Facebookfacebook.com/biddit.in

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biddit