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Colleen McCormick
Phone: 617-746-9825
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cmccormick@invaluable.com

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UK-Based Invaluable Launches Beta Test of Its New “Timed Auctions” Service

Invaluable’s “Timed Auctions” Offer Significant Time and Cost Savings to Auctioneers and Buyers

Category:

Wednesday, March 27, 2013 4:00 am EDT

Dateline:

LONDON
"After considerable market analysis and auctioneer research, we are thrilled to launch the beta test of our new ‘Timed Auctions’ service"

LONDON--(BUSINESS WIRE)--Today, Invaluable, the leading provider of SaaS technology and marketing services to the $40 billion live auctions market, announced the launch of a beta test for its new Timed Auctions service as a complement to its Live! Auction product. Auctioneers may now post a Timed Auction that will run online for a defined period of time, allowing bidders to register and place maximum bids on items, which will be executed with confidence. Bidders are notified throughout each phase of the Timed Auction, so they have an opportunity to raise their bid amount and stay updated on their lot preferences. The closing of a Timed Auction is determined by a defined end time with extended bidding if there are additional bids in the last five minutes. When time is up, the highest online bidder wins.

Invaluable’s Timed Auctions service saves auctioneers significant time and money associated with marketing and conducting a live auction. It creates a powerful new revenue stream and empowers auctioneers to maximize results for their consignors. Invaluable continues to be a proactive industry leader through new product development for both auctioneers and bidders. This beta test enables Invaluable to secure direct feedback from auctioneers and buyers with the objective of launching a final Timed Auction service by the end of April 2013. The beta test is currently open to all auctioneers and buyers. To view Invaluable’s Timed Auctions beta service, visit www.invaluable.com and select the “Timed only” filter located below the search bar.

“After considerable market analysis and auctioneer research, we are thrilled to launch the beta test of our new ‘Timed Auctions’ service,” said Rob Weisberg, CEO, Artfact, LLC. “This new feature provides our auctioneer partners with all of the benefits of a live auction, yet with considerable cost savings. It also offers significant business benefits to auctioneers selling time-sensitive and seasonal items. We look forward to collecting valuable feedback on our beta test to deliver a powerful and robust ‘Timed Auction’ service to our customers worldwide.”

“We’re excited to be among the first to leverage Invaluable’s new dynamic ‘Timed Auction’ service,” said Barbara Bachini of Argentarius Auctions in Perugia, Italy. “Invaluable’s Timed Auctions will provide me with a new option to maximize the return for my consigners. And because of its qualified traffic and high caliber buyers, Invaluable is the ideal destination for me to place my timed auction.”

Maureen Paine Stoss of The Auction House Sacramento said, “Having been in business for 25 years, we are constantly looking at new ways to expand our business, and Timed Auctions is one of those opportunities.” Stoss continued, “We look to Invaluable to provide new tools and products to help grow our business. They are a true partner in the industry and one that we count on to help us reach a new audience of buyers from around the world. We expect Timed Auctions to have a measurable and positive impact on our company in the coming year.”

About Invaluable

Invaluable is the leading provider of SaaS technology and marketing services to the $40 billion live auctions market. Invaluable provides over 20,000 estate and art auctioneers around the globe with marketing and e-commerce solutions including auction listings, online bidding, websites, and auction management software. Combined, Invaluable.com, Artfact.com and AuctionZip.com, make up the Artfact network of web properties, which reach over 2.5 million monthly unique users. Invaluable is based in the UK, with headquarters in Boston, Massachusetts. Currently, Invaluable and Artfact have over 65 employees worldwide and partnerships with major appraisal associations across the globe.

Contact:

Artfact and Invaluable Media Relations
Darcy Sly, 617-213-0145
pr@artfact.com