Bahrain - The first Bahraini mobile app specialised in collectables and auctions was recently launched with the aim of connecting enthusiasts from across the world on one safe platform.

Urbiz was co-created by Arados Auction House owner Mohammed Al Aradi who told the GDN that the market for collectables and numismatics (the study or collection of coins, banknotes and medals) gained popularity during the pandemic.

He added that the application – which took two years to create – aims to connect people from around the world on one safe platform through which anyone can buy and sell.

“The application has two different types of sales; the first is the direct sale through which items are displayed with prices,” he stated.

“The second is selling through an auction – which can take from one day to a month – and this will further raise awareness about this beautiful hobby.

“It can be looked at as an alternative form of investment and the application is open for anyone anywhere to buy and sell through.”

Mr Al Aradi said that during the pandemic, the market for collectables and numismatics increased in popularity – especially the demand for ancient coins.

He added that the community has increased in number with many registered societies across the world providing courses, numismatic workshops and exhibitions in addition to publishing books and articles.

“This application will solidify the position of Bahrain to be a regional hub for these type of investments,” he added.

“Many high-net worth individuals seek alternative investment streams to differentiate their portfolios while also spreading the risk within efforts to minimise it.

“We wanted to have a platform to connect people from all over the world with a shared love for collecting and investing in collectable items while also offering them easy access to a network to buy and sell in a safe, secure and friendly environment.

“Creating this application took two years from brain-storming, to developing to testing until we finally reached a stage where I felt comfortable enough to present it to the people.

“I truly believe that Bahrain can be the regional hub for this type of investment and a society for collectors especially since the appetite for this field has grown throughout the past few years.”

He said that hundreds of people have registered on the platform due to its ease in connecting people from across the world in a secure environment.

The application is available free for both iPhone and Android.

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