'Dropit' sets itself apart as a unique mobile application that gamifies the traditional auction experience and caters to audiences at live sporting events.
The app showcases the live 60-second auctions on stadium scoreboards, making it possible for event attendees to bid for items at deeply discounted prices. Recently, a Ducati motorcycle (which retails for more than $15,000) was auctioned off at a baseball game for just under $4,000.
To use the app, stadium-goers must download it and register. Once an auction has begun, users have the chance to bid immediately, or wait it out and see if they can snag a coveted item at a lower price. However, as there will be many like-minded individuals at the stadium who are hoping for a deal, the stakes are high and bids are extremely competitive.