First-Of-Its-Kind Online Auction Platform, DiarBid, Launches Across The UAE

UAE-based tech entrepreneurs Mohamed Diab and Amro Ashour announced their unique entry into the e-commerce market with the launch of DiarBid, a first-of-its-kind platform providing innovative solutions offering users maximum value from selling unique and used furniture, valuable antiques, outstanding paintings, rare collectables, and high value home items. Focusing on high-value listings, the dynamic, easy-to-use, secure platform provides auctioning, direct buying and selling, delivery and installation, and offering a full-circle service packaging and relocation.

DiarBid’s Co-Founder and Business Development Manager, Mohamed Diab, says, “Sensing a gap in the market, we are excited to share DiarBid with the UAE. For the first time, through a highly-regulated bidding process via our auctioning platform, DiarBid allows users to grab the best deals on valuable pre-owned furniture and home items and provides on-the-spot quotations for premium house moving and packaging services. From one account, users can buy, sell, or relocate from the convenience and comfort of their home.”

Unlike other online listing platforms in the market, DiarBid ensures quality and authenticity with thorough screenings and stringent regulation processes towards each listing and transaction. Reviewed by DiarBid’s team before going live, with provenance papers of high-value art and collectables analysed by an authentication expert, each listed lot has a monetary hold placed on it, valued at 5% of the seller’s target price and once a bid is successful, a 10% hold of the buyer’s bid value until approved. With funds released immediately when agreed, the two parties are offered delivery and installation services through DiarBid’s premium relocation partner. This partner also acts as a physical quality control collecting and delivering items, ensuring they are in the condition as advertised by the seller.

Of the process, Amrou Ashour, Co-Founder and Operations Manager, says, “By placing clear-cut conditions for each listing, we are not only confirming our commitment to an authentic, secure and reliable platform, but we are asking for the same commitment from our users, weeding out illegitimate parties and ungenuine activities. All transactions are done online through wire transfers, and we act as the middle man, the authenticator, facilitating all communication between the buyers and sellers to avoid annoying phone calls and visits unless the buyer opts to pick up the purchase at an agreed date and time.”

Developed in partnership with Dubai-based digital agency Wisdom IT Solutions, extreme attention was paid to the online user brand experience, a high priority for Diab and Amrou when developing the platform’s framework. Of the user experience, Diab added, “Wisdom played a pivotal role in turning our dream into a reality. We wanted to make sure we got it right from the start, and the Wisdom team’s attention to detail and willingness to go above and beyond truly set them apart. They were with us every step of the way, providing unwavering support and expertly consulting our team to ensure we created a comprehensive solution that met our needs and exceeded our expectations.”

As selling furniture is mostly connected to moving home, DiarBid also provides relocation services for homes and offices in Abu Dhabi, Dubai and Sharjah through a professional and competitively-priced third-party associate. Listed alongside the auctioning activities on the platform, users can fill out a questionnaire and receive an estimated quotation generated on the spot, with the final cost provided within 24 hours. The booking and payment of the service can also be facilitated online.

DiarBid’s operations currently cover Abu Dhabi, Dubai, and Sharjah, with rapid expansion plans to cover the remainder of the UAE and GCC, starting with Saudi Arabia, in June 2024.