GBM operates an online auction platform (gbm.auction) that pays bidders a payout whenever another participant places a higher bid, using a patented Bidder Incentive Auction™ built into its technology. The system, used by both auctioneers and bidders, is designed to increase bidding activity and push higher hammer prices while rewarding participants who do not win. It differentiates itself from traditional auctions by turning bidding into a continuing incentive, rather than a zero-sum activity, and is connected to Bidwrangler, a related online auction software. GBM’s goal is to boost engagement and final sale prices, aiming to raise hammer prices by incentivizing ongoing participation; the company reports over $200 million in bidding volume and more than $6 million paid to bidders since its founding in 2017 by Brendan O’Connell.
Company Size
1-10
Company Stage
N/A
Total Funding
N/A
Headquarters
London, United Kingdom
Founded
2020
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