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Three Simple Steps to upload your auction

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English AuctionSelected

An ascending price auction where the bid price keeps increasing starting from a reserve price till no bidder can match the highest standing bid.

Dutch Auction Selected

A descending price auction which begins with a high asking price which decreases until one bidder is willing to pay the quoted price

Sealed Bid Selected

A sealed bid first price auction, where bidders submit sealed bids and the highest bidder wins and pays his bid.

Vickrey Selected

An sealed bid second price auction where bidders submit sealed bids and the highest bidder wins and pays the amount of the second highest bid.

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English Auction

iOpening price
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iMinimum increase per bid
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iAuction start date
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iAuction start time
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An auction is an economic mechanism whose purpose is the purchase, sale, or allocation of goods and the formation of prices for those goods via some competitive process like bidding. There are the four major types of auctions:

  • English Auction

    An ascending price auction where the bid price keeps increasing starting from a reserve price till no bidder can match the highest standing bid.

    english-auction-img
  • Dutch Auction

    A descending price auction where the auctioneer begins with a high asking price. The price decreases until one bidder is willing to pay the quoted price.

    dutch-auction-img
  • Sealed Bid

    A sealed bid first price auction is where bidders submit sealed bids and the highest bidder wins and pays his bid.

    sealed-bid-img
  • Vickrey

    Vickrey is a sealed bid second price auction where bidders submit sealed bids and the highest bidder wins and pays the amount of the second highest bid.

    vickrey-img

What blockchain gives?

  • transparency-img

    Transparency

    An online auction without central intermediaries conducted over smart contracts using blockchain's immutable tamper-resistane ledger makes the auctioning processes transparent.

  • secure-img

    Security

    Using audited and tested smart contracts based on Michelson (which facilitates formal verification) makes the entire platform foolproof and secure, so that malicious and selfish peers cannot cheat.

  • speed-img

    Speed

    Because of the high throughput provided by the Tezos blockchain, auctions can be created, customised, and executed in a jiffy.

  • cost-efficiency-img

    Cost efficiency

    By eliminating the need for central intermediaries to conduct and manage the auctions, it lowers the cost of auctioning and enables fair price development.