Last night’s live grand final of Three’s The Block NZ was a first for any reality television show in Australia and New Zealand with the buyer of one of the renovated properties placing the winning bid through a real estate auction app while watching from their own home. During the live final, Gavl enabled a potential buyer to place the winning bid on Chlo and Em’s property via the Gavl app.
One of the renovated properties on the program – 25 Frances Bryers Road in Hobsonville, Auckland – attracted four registered bidders as they bid online through Gavl.
During the live auction, Gavl representatives at the auction site announced the bids of all registered online Gavl bidders. Gavl bidders watched the auction live through the app and were able to see the current bids displayed on their screen.
Following a bidding war between the buyers in the room and those bidding via Gavl, the property sold under the hammer for $921,500 to a buyer through Gavl.
The couple from Hobsonsville, were delighted to secure the property. “We couldn’t make the auction because we had two kids going down to bed – we wouldn’t have bid if it weren’t for Gavl. Our bidding experience with Gavl was amazing. It was easy, it was fun and super convenient. Being able to bid from the comfort of your home makes it a bit less stressful.”
Earlier in the evening two bidders via Gavl went head-to-head on Amy and Stu’s property, before it was knocked down to a buyer in the room. The bidding war demonstrated the value of Gavl as the increased buyer competition helped drive the sale price up.
Gavl’s live auction bidding function enables property buyers to watch and make bids at auction in real time from anywhere in the world – giving sellers a broader auction audience. It’s patent-pending platform is the only available technology dedicated to the real estate industry that live-streams events with a one second latency – including Facebook Live[1].
New Zealand General Manager, Matt Annear, says: “We’re thrilled that the winning bid on 25 Frances Bryers Road came through Gavl, which gave buyers an alternative to attending the event in person. This is a strong result for both the teams who have put in hard work and long hours as well as the buyer. Without our auction app, they may have missed out on bidding as they were prevented from attending in person.”
“Our partnership with The Block NZ was an exciting opportunity to show the New Zealand public another method of watching and bidding on property auctions. The success of Gavl so far – streaming 10,000 auctions, with app downloads in over 50 countries – indicates that there has been strong uptake of the platform and it’s likely that buyers bidding on auctions remotely will only continue to grow in popularity.”
[1] Facebook Live is commonly used by the real estate industry and has a 5-20 second latency when tested by Gavl
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