Auction

Auction lifecycle

Bids decide the final price

1. 01
   Set termsReserve, increment, start, and duration
2. 02
   Collectors bidEach bid beats the last by your increment
3. 03
   Auction endsThe highest bidder wins
4. 04
   SettleEither side settles: art to the winner, proceeds to you

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.

This page is for sellers. Bidding covers the same auction from the collector's side.

Key Features

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 - Any bid placed within the end phase moves the end time to the bid time plus the end phase. For example, an auction set to end at 2:00 PM has a 5-minute end phase. A bid at 1:57 PM falls inside that window, so the auction now ends at 2:02 PM, 5 minutes after the bid. Each later bid inside the window extends it again.

Anti-sniping end phaseEnds 2:00 PM

end

1:451:501:552:002:052:102:15

• end phase
• next bid
• bid placed
• scheduled end

A bid at 1:57 PM is inside the end phase, so the end moves to 1:57 PM + 5 min = 2:02 PM.

Bid at 1:57 PMReset

End phase

None5 min10 min

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.

Physicals explains the unlock price, how the address reaches you, and what you're responsible for.

Rewards

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

Getting Started

---

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