How bidding works
- Fund your escrow
Deposit USDC before you bid. While your bid leads a lot, your maximum plus the auction house fee is locked; being outbid releases it, and winning settles it against your invoice.
- Bid
Set a maximum and we bid up to it, or name an exact amount. Bids are binding.
- Successful bid
Yours at the hammer price plus the auction house fee. Invoice at close.
- Settle
Where your collateral covers the invoice, the sale settles the moment the lot closes. A leveraged win leaves a remainder, payable within 48 hours. Shipping follows settlement. These terms take effect with BidEscrow V8; until then the prior regime in Conditions of Sale §5 governs.
You deposit USDC directly into escrow. What the contract can and cannot do with that deposit is set out in how the bid escrow works, and proved against the deployed source in guarantees and limits.
Bid increments
| Current bid | Minimum raise |
|---|---|
| Under $100 | $10 |
| $100 – $499 | $25 |
| $500 – $999 | $50 |
| $1,000 – $4,999 | $100 |
| $5,000 – $9,999 | $250 |
| $10,000 – $24,999 | $500 |
| $25,000 – $49,999 | $1,000 |
| $50,000 – $99,999 | $2,500 |
| $100,000 – $249,999 | $5,000 |
| $250,000 and above | $10,000 |
The auction house fee
| Portion of hammer price | Rate |
|---|---|
| First $2,500 | 7.5% |
| $2,500 – $10,000 | 6.5% |
| $10,000 – $100,000 | 5.5% |
| $100,000 – $1,000,000 | 4.5% |
| Above $1,000,000 | 3.9% |
Rates are marginal. At $50,000, the fee is $2,875 (5.75%). Exact fees appear on each lot.
Bidding rules
Enter your limit; we bid only enough to lead. It stays hidden in bid history, but proxy prices may reveal or bound it. With BidEscrow, the public lock is the collateral the bid requires, at the base tier maximum plus fee, making it inferable (what that reveals). Maximums may rise, never fall.
Lots close independently. A bid in the final five minutes resets that lot to five minutes remaining, up to 30 minutes of extensions.
Most lots have no reserve. Premier lots may carry a confidential reserve at or below the low estimate. Below reserve passes; no bids is unsold.
The complete rules for increments, extensions, and settlement windows live in the Conditions of Sale.