This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
1. THE BEGINNING
This innovation initially came to life when…
In 2015, Leith Donaldson, now CTO of Gavl, was on the market for a property in Melbourne. In a highly competitive auction market, on multiple occasions there would be two auctions at the one time Leith was interested in, with no way of attending both. He’d attend one, to be blown out of the water on price, while the other ended up selling for a price within his budget… He cursed at why there was no way he could attend multiple auctions at the same time.
Physically attending dozens of auctions every month, also didn’t Leith and his wife much time for anything else on the weekend.
Out of this need arose Gavl. Founded in 2016 by Leith Donaldson, Joel Smith & Michael Artup, the Gavl app was built to digitise every aspect of the auction process – allowing buyers to watch, bid and buy at auction from anywhere in the world.
By mid 2016, livestreaming tech guru Chris Dimopoulos was appointed as the tech lead, with Gavl fully launched in November of that year.
2. WHAT & HOW
The purpose of this innovation is to…
…help real estate buyers be in two places at once. The Gavl app allows consumers to browse listings, shortlist properties and watch, bid and buy at auction all from the palm of their hand.
And with more buyers able to attend auctions, a vendor also benefits with a more competitive auction.
It does this by…
…using the latest real-time services and developed in-House streaming engine to achieve the best result when it come to Viewer experiences, low latency and data analytics.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
Previously, real estate auctions were traditional curb side or in room events, with the only way of bidding at the auction was by physically attending.
Its various benefits to the customer/end-user include…
- Enables remote bidders to watch, bid and buy at auction in real time
- Empowers buyers to enhance their auction strategy by researching past property prices
- Allows buyers to watch auctions on demand and research past bidding history to inform their strategy on auction day
- Increases auction attendance by up to 47% – giving vendors and real estate agents access to more buyers
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
No other livestreaming auction product allows users to watch, bid and buy at auction in less than 1 second of the real time action
5. TARGET MARKET
It is made for…
Real Estate Agents, House Vendors and House Buyers.
It is available for sale through…
Web, Apple Store for iOS devices and Play Store for Android.
Our marketing strategy is to…
Let real estate agents broadcast their auctions in absolute real-time to thousands of potential buyers around the globe – not just a handful of onlookers. And with more buyers interested in a property, you’re in the best position to receive more bids and maximise sales returns.
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
Maven Judge Vote: GAVL Live Auctions – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)