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Auction

Create and manage auctions for your NFTs on Qubicbay

Overview​

Auctions allow you to sell your NFTs to the highest bidder within a specified time period. This feature provides a dynamic pricing mechanism where buyers compete for your digital assets.

Getting Started​

Creating an Auction​

  1. Navigate to the Auction Section Auction Interface

  2. Set Auction Parameters

    • Start Date: When the auction begins accepting bids
    • End Date: When the auction closes and the highest bidder wins
    • Starting Price: Set a reserve price to ensure minimum value
    • Bid Increment: Define how much each bid must increase by

    Auction Configuration

    ⚠️ Important: Enter exact start and end dates for your auction. Once created, these cannot be modified.

Auction Management​

Successful Registration​

After successfully registering your auction, you'll see confirmation screens:

Auction Confirmation 1

Auction Confirmation 2

Auction Confirmation 3

Monitoring Your Auction​

  • Active Bids: Track all incoming bids in real-time
  • Time Remaining: Monitor countdown to auction end
  • Current Highest Bid: See the leading offer
  • Bidder Information: View details of participants

Best Practices​

  1. Set Realistic Timeframes: Allow enough time for bidding competition
  2. Choose Appropriate Reserve Prices: Balance between minimum value and attracting bidders
  3. Promote Your Auction: Share on social media to increase visibility
  4. Monitor Activity: Stay engaged with the bidding process

Next Steps​

Once your auction is live, you can:

  • Monitor bid activity
  • Respond to bidder questions
  • Prepare for the final sale
  • Complete the transaction with the winning bidder

✅ Done: Your auction is now live and ready to accept bids!