Bahrain – Bahrain’s first mobile app specializing in collectibles and auctions was recently launched with the aim of connecting enthusiasts around the world on a secure platform.
Urbiz was co-founded by Arados auction house owner Mohammed Al Aradi, who told GDN that the market for collectibles and numismatics (the study or collection of coins, of banknotes and medals) has grown in popularity during the pandemic.
He added that the app – which took two years to create – aims to connect people around the world on a secure platform through which anyone can buy and sell.
“The app has two different types of sales; the first is direct selling whereby items are displayed with prices,” he said.
“The second is to auction off – which can take anywhere from a day to a month – and that will help spread the word about this beautiful hobby.
“It can be considered an alternative form of investment and the application is open to anyone, anywhere to buy and sell.”
Mr. Al Aradi said that during the pandemic, the market for collectibles and numismatics has grown in popularity, especially the demand for ancient coins.
He added that the community has grown in number with many registered societies around the world offering courses, numismatic workshops and exhibits in addition to publishing books and articles.
“This bid will strengthen Bahrain’s position as a regional hub for this type of investment,” he added.
“Many wealthy individuals seek alternative investment streams to differentiate their portfolios while spreading risk in efforts to minimize it.
“We wanted to have a platform to connect people around the world with a shared love for collecting and investing in collectibles while giving them easy access to a network to buy and sell in a safe, secure and user-friendly.
“It took two years to create this app, from brainstorming to developing to testing, until we finally reached a stage where I felt comfortable enough to introduce people to it.
“I really believe that Bahrain can be the regional hub for this type of investment and a society for collectors, especially as the appetite for this area has increased over the past few years.”
He said hundreds of people have signed up on the platform because of its ease in connecting people from all over the world in a secure environment.
The app is available free for iPhone and Android.
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