ABOUT THE PAUL REED SMITH GUITARS
1. Single Cutaway Prototype #1, designed and built by Joe Knaggs START PRICE £20,000
2. Large Hollowbody Prototype #1, designed by Joe Knaggs START PRICE £9,500
Launched November 2012, BidInfinity uses a new online auction method that brings back the excitement and interest of traditional auctions with the added reach and convenience of the Internet.
“The idea for BidInfinity came about when I was bidding for a sofa on eBay. This sofa was quite unusual and I really wanted it but as usual there was no bidding activity until the last few seconds and I was outbid. I tried to raise my bid but there wasn’t enough time and unfortunately I lost out by £5.
This was incredibly frustrating and it occurred to me that not only had I been unable to counter-bid for an item I wanted but the seller had missed out on getting a higher price as well. Put simply, the auction had been cut short in its prime!” Will Renwick, Founder, BidInfinity
With BidInfinity there are three stages to an auction. Firstly, items are listed for preview and, at a time and date set by the seller, the auction starts. Then, during the opening period, initial bids are placed. At the final stage of the auction, the sale moves into ‘Hammer Time’. The countdown timer begins; every time a new bid comes in, this resets. When no more bids come in, the countdown timer runs out. The hammer goes down – going, going, GONE! Interested bidders always have a chance to raise their bid. Sellers get the best possible price. Objects find their true worth.
Unlike expensive, traditional auction houses, there are no buyer’s premiums, hidden costs and taxes. The sales commissions charged to the seller are a modest 7%, the one-off listing fee a mere 1% of the auction start price. Should the sale be unsuccessful, sellers can re-list their item at no extra cost as many times as they like.
High resolution images are available on request. For further information see http://www.bidinfinity.com or call Will Renwick on +44 (0)203 667 2698 or email will.renwick@