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Auction

List your artwork as an English auction with configurable bidding options and anti-sniping protection.

What are Auctions?​

Auctions follow the traditional English auction format where collectors compete by placing increasingly higher bids on your artwork. Unlike fixed-price sales, auctions create competitive bidding environments that can drive prices above your initial expectations. The highest bidder when the auction ends wins the artwork.

Key Features​

🎯 Competitive Bidding​

English auction format where each bid must exceed the previous bid by your configured increment.

⏰ Anti-Sniping Protection​

Optional end phase extends auction time when bids are placed near the deadline, ensuring fair competition.

💎 Reserve Price Protection​

Set a minimum acceptable price - auction only begins if reserve is met.

🚀 Flexible Start Options​

Start immediately on first bid or schedule for a specific date and time.

🎁 Physical Integration​

Optionally include a physical artwork with unlock pricing and shipping address collection.

Sales Configuration​

Auction Start Configuration​

  • On bid - Auction starts immediately when the first bid is placed
  • Scheduled start - Start immediately or set a future date and time for your auction to begin (all times are in your local timezone)

Reserve Price Settings​

  • Currency: Choose between SOL, USDC, or other supported tokens
  • Reserve price: Enter the minimum amount you're willing to accept

Bid Increment Configuration​

  • Increment type: Choose between percentage (%) or fixed amount
  • Percentage increment: Each bid must be at least this % higher than the previous bid
  • Fixed amount: Alternative option for a static token amount increases

Auction Duration​

How long do you want your auction to run?

End Phase Configuration​

Setting an end phase will extend your auction with each bid within the given time frame from the end of the auction. This prevents users from "sniping" your auction at the last second, allowing for other bidders to increase their bid.

  • None - Auction ends exactly at the scheduled time
  • Timed Option - Example: An auction is set to end at 2:00 PM with an End Phase of 5 minutes. A user places a bid at 1:59 PM (within 5 minutes of end time). The auction is now set to end at 2:04 PM (5 minutes from the last bid).

Physical Artwork​

  • Include physical artwork with sale - Check this if you're selling a physical piece along with the NFT
    • Describe any pertinent shipping details the collector should know about
    • Optionally upload a photo of the physical piece to show collectors what they're getting
  • Unlock price - Specify an unlock price for the physical (bid amounts below this do not receive the physical)
  • Ask buyer for shipping address - Check this if you want the winner of the auction to send you their shipping address through mallow.

Rewards​

If you want to reward auction bidders or the winner with something special, let them know here!

Getting Started​

Step 1: Configure Your Auction​

  1. Set your reserve price and preferred currency
  2. Choose bid increment type (percentage or fixed amount)
  3. Decide on auction duration and end phase settings

Step 2: Set Start Timing​

  1. Choose "On bid" for immediate start when first bid is placed
  2. Or schedule a specific start date and time for marketing purposes

Step 3: Add Physical Components (Optional)​

  1. Enable physical artwork inclusion if applicable
  2. Set unlock price threshold for physical items
  3. Configure shipping address collection

Step 4: Launch and Monitor​

  1. Review all settings before going live
  2. Promote your auction to drive initial bidding
  3. Monitor bidding activity and engage with your community

Step 5: Settle Auction​

  1. Either the winning bidder or the seller can settle the auction, at which point the proceeds are sent to the seller and the artwork to the winning bidder
  2. If your auction concluded with no bids, you can claim your artwork from the artwork page

Click the List Artwork button from your artwork page to get started!