The world of property auctioning has witnessed another dramatic development, care of clicktopurchase®, with the first property sale being concluded by an Artificial Intelligence auctioneer. Plus, the sale process incorporated Blockchain technology.
Artificial Intelligence auctioneering by clicktopurchase® emulates the old-fashioned ballroom experience but in a modern online manner. Bidders interact with the auctioneer in real time, see other bids and comments from the auctioneer, and react accordingly. The Artificial Intelligence Auctioneer, “gAbI”, controls the bidding, encourages offers, and closes the sale when appropriate. Human error or manipulation cannot occur, instilling total trust in the process for all involved.
The property in question was a house in Sweeney’s Terrace, Dublin being sold by agency Allen & Jacobs. Described as a “detached residence tucked away in a private driveway at the end of Sweeney’s Terrace”, the property was offered with a Guide price of €250,000. Following competitive online bidding, monitored by “gAbI”, the property sold by way of clicktopurchase® auction for €345,000
Gary Jacobs ““Delighted with the smooth running of our auction which was operated by "gAbI", the clicktopurchase ® artificial intelligence auctioneer.From start to finish, the bidding was kept going at a good pace whilst allowing ample time for the bidders in the room to bid.It also ensured that we had plenty of time to get all our verified bidders into the online auction room and also allowed us to be able to interact with our client during the auction.Very satisfied with the result-we will definitely use again.”
“Whilst we have established a track record as the only platform offering private treaty exchanges, it should be remembered that we also offer an auction channel.clicktopurchase® takes online auctioning to a totally different level to other bidding models by emulating the traditional bidding experience in real time, with the security of an Artificial Intelligence Auctioneer, and the ultimate in transparency of Blockchain recording the transaction”.Neil Singer, CEO clicktopurchase®.
A recording of the auction can be seen here:https://www.youtube.com/watch?v=G7jvIa1-9Vc
The Blockchain Block recording the sale can be viewed here: http://clicktopurchase.com/BlockChain/Explorer/Tx/bfa1e65565a5095f74d52353d21c01efe3cec1842033d3a260d3bddd7bf02ac8
clicktopurchase® is currently live in the UK and Ireland.
Press Release: 9th October 2018