Arrow Rest with Magnet and Wire

I recently got myself a bow (Cartel Fantom, a recurve bow), something I've been wanting to get for a while, and after I spent a while messing with it, I realized "Hey, I need more than just a riser, limbs and string...".

So I set out scouring the net for parts, starting with an arrow rest. Lo and behold, they're either expensive or have low reviews (for a small plate with a bit of wire, I was amazed how the prices just kept rising).

While waiting for my next pay-check, I thought to myself,