How it works

An auction is a type of listing where you set a minimum price and buyers bid against one another to win your listing.

Auctions are the most common way to sell on Sweet. It's a great way to start selling on Sweet if you're unsure how much your item is worth or if you want to get a sense of what others will pay for it. On Sweet, you set the starting price and duration of your auction, and buyers can bid against one another until your listing ends.

Your NFT will be listed for sale until someone buys it, or until the auction expires. The highest bidder will win the auction, paying either the starting price or higher if they bid before the end of the auction period.

Fees

Auctions have a minimum price that is specified by the seller with a duration of 12 hours to 5 days. The seller pays some fees when the auction ends with a winning bid.
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Time to Pay

If you are the winning bidder you will have 24 hours to complete payment on the contract. If you do not do so within that time, the token will be released back to the seller.

How to pay

Payments for auctions successfully won can be made through Moonpay or direct crypto payment. To do this, navigate to the auction and press Pay Now.

Note: Moonpay not supported in all states. Read more here.

Interested in selling an item through an auction, follow the steps here:

https://help.sweet.io/en/articles/6010520-create-an-auction-for-your-nft

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