Date: Fri 17-Sep-1999

Publication: Ant

Author: JUDIR

Quick Words:

online-icollector-auction

Full Text:

icollector Launches First Internet Auction Pre-sale Bidding Service

LONDON, ENGLAND -- An online auction service, icollector plc, located at

http://www.icollector.com, announced the launch of a presale bidding service.

By accessing the icollector site, registered users can now bid electronically

24 hours a day, seven days a week, on thousands of premium items from various

upcoming auctions, including "Elvis Presley: The Official Auction," being held

this October in conjunction with Elvis Presley Enterprises and Guernsey's

auction house.

The introduction of the innovative presale bidding service is anticipated to

significantly enhance the sales potential for this and other future auctions

by giving collectors the opportunity to participate from virtually any

location worldwide.

Visitors to the icollector site will have the first opportunity to utilize the

service by placing e-bids on more than 2,000 of Elvis' personal artifacts,

including his blue pajamas, army fatigues, a pay stub from the Precision Tool

Co., front door keys for Graceland and a shooting target complete with bullet

holes. Once submitted, the secure and confidential e-bid is then forwarded to

the auctioneers to be introduced at the appropriate time during the live

auction October 8 through 10 at Las Vegas' MGM Grand Hotel.

Founded in 1994, icollector was the first to bring the auction industry to the

Internet through the launch of its www.icollector.com Web site. According to

icollector, since they deal exclusively in art, antiques and collectibles,

which are assured as authentic by industry professionals, they are able to

offer the security and trust which is missing from various person-to-person

online auctions.

James Corsellis, chief executive officer at icollector, comments: "We are

delighted to once again play such a pioneering role in the online auction

market, and we believe the launch of our innovative presale bidding service

has the potential to change the way in which future premium auctions are

conducted. In the past, auction houses, galleries and dealers had to rely

solely on live bidding, yet today the Internet allows them to reach collectors

worldwide in an effort to generate sales which would otherwise be impossible."

Presale bids are placed by a registered user after the auction catalogue has

been viewed online. Once a bid is submitted, a message appears allowing the

user to review the bid before it is forwarded through icollector to the

auction house. A similar message is sent to the user to confirm the receipt of

the bid by icollector and is forwarded to the auction house, who will notify

any winning bidders of their success.