Industry NewsTechnology

Tech entrepreneur uses app to auction luxurious Austin estate

Concierge Auctions listed the home for auction on its Instant Gavel app for a 30-hour period
  • Tech guru Martin Neath listed his Austin home on Concierge Auctions' Instant Gavel app July 27.
  • Previously listed for $5.995 million, the home at 3509 Lost Creek Blvd. is currently in a pending sale from the auction.
  • The Instant Gavel app has grown in popularity, Concierge Auctions says, accounting for more than 80 percent of auctions in 2016 compared to less than 10 percent last year.

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What's the fun in selling a home the traditional way anymore? Through Concierge Auctions' Instant Gavel app, home sellers can opt to put their home in an auction instantly and virtually for a set period of time, which is just what tech entrepreneur Martin Neath did when he decided to to sell his multi-million dollar Austin estate. For a 30-hour period from July 27 to July 28, 3509 Lost Creek Blvd. was up for bid in the app. Previously listed for $5.995 million, the property has since gone under contract and a sale for an undisclosed is pending through Concierge Auctions. The auction is in cooperation with Christopher E. Watters of Watters International Realty. "Thus far in 2016, more than 80 percent of our auctions have been conducted through our Instant Gavel app -- up from less than 10 percent just a year ago, when most of our sales included a live, on-site auctioneer," Concierge Auctions chairman Chad Roffers said in a statement. "The app has proven effective at eng...