Singer Vielle reports AI-operated online auctions successes

18th December 2018

Singer Vielle has reported an 100% success rate in December at its online Artificial Intelligence - operated auctions, claiming this is in stark contrast to slowdowns in reported sales at traditional ballroom auctions.

The auctions use the already established clicktopurchase® online execution system to enable the conclusion of a property sale by a legal exchange, be it by private treaty, ‘best offers’ or auction, something it claims is unique.
The platform provides full audit trails with legal digital signatures which are recorded, along with the contract, in Blockchain.

The auctioned properties comprised an industrial property in Calne, Wiltshire (guided £400,000), a vacant retail/residential property in Enfield (guided £660,000) and a retail/residential property in Goodmayes (guided £400,000).

Singer Vielle said two of the properties achieved 20% over the guide price while auctions were selected as the most appropriate way to close the sales shortly into marketing

Neil Singer, Senior Partner of Singer Vielle, said the group is 'leading the charge' for online auctioneering.

"The ability to call the most technically-advanced online real-time auction at any time during the sales cycle provides speed, certainty and transparency for all parties involved. ‘gAbi’, the ‘AI’ Auctioneer, and the Blockchain feature delivers the ultimate in trust.”

pnorman@costar.co.uk click here for Costar