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Artificial Intelligence firm offers first online binding offers for auctioneers

London-based tech firm Clicktopurchase claims to have launched the world's first AI auction platform.

The Negotiator

AI online platform screen image

The online property execution platform, Clicktopurchase, has released ‘gAbi’, claiming to be the world’s first Artificial Intelligence operating property auctions.

Until now, Clicktopurchase has offered three channels for an agent or vendor to close a sale: Clicktopurchase, Online Private Treaty, Clicktopurchase Best Offers and Clicktopurchase Real-time Auctions. gAbI will provide a new fourth channel.

Neil Singer, CEO, said, “We have never liked the online clock ticking auction approach. We felt this was seeking to reinvent the way property was auctioned. As a result, our auctions have been agent-operated with a live auctioneer interacting with the bidding audience in the same manner as a traditional saleroom but with all the benefits of being online.

“Now we have added gAbI with the advantages an Artificial Intelligence auctioneer can provide.”

The online platform brings speed, certainty, accountability and transparency. Using advanced technology, Clicktopurchase enables legally binding offers to be submitted, where acceptance creates digital contract notes with legally binding encrypted and hashed signatures.

In October 2017, Clicktopurchase became the first platform recording audit trails and property executions in a Blockchain ledger, delivering additional security, as well as transparency and comfort for all involved.

Agents can, says Neil, either opt to operate a real-time online Clicktopurchase auction themselves, or ask ‘gAbi’ to operate on their behalf.

It will enable agents to focus their skills to advise their clients and market property, with the flexibility to conclude by an automated online bidding process, which would be familiar to all, if they feel appropriate.


May 22, 2018

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