🔁Buying as Rolling Auction
Last updated
Last updated
After finding an listed NFT that you like, you can decide to buy it.
On the right side of the thing page, you can see that this NFT is listed as Simple Sale and as Rolling Auction.
Click on See Auctions to go to the Auction page.
On the top of the page you can a tab that says NO OFFERS (that is currently selected) and CLOSED.
The NO OFFERS is an auction that is currently open but doesn't have offers yet.
The CLOSED tabs, are past auctions that are closed. They are kept for provenance purposes.
The lowest amount you can input as a bid. In the example above it's 5 NEAR.
The current offer that is winning the auction. The auction only ends, if the Owner accepts an offer.
In this table you can visualize the offer history on the specific token.
While logged in, type in your offer in the Make Offer field. It needs to be higher than the Minimum and Current offers.
After you typed the Make Offer button will become active.
Click it and you will be redirected to your wallet to validate the transaction. After this your offer is recorded on the blockchain.
After an offer has been made, it stays locked in the contract for 24 hours.
When you make an offer, your funds get into escrow and there are 3 things that can happen:
In this case your funds go to the owner and you got yourself a new NFT. Nice!
Someone made an offer higher than yours. In this case, you don't need to do anything and your funds get back to you automatically.
You have the highest offer but after 24 hours the Owner has not accepted it. In this case, you need to manually withdraw your offer from escrow. Two ways to do it:
On the Rolling Auction page, in the Offers table, find your offer and click Withdraw.
Click on Orders under Manage in the navbar.
You can check in the Auction Page or in the My Offers page in how long your offer will unlock.
You can check all your offers in the My Offers page (under Create)
When you bid, you put your NEAR into escrow
When you get outbidded your funds are automatically released from escrow
The owner of the listing can accept anytime within 24 hours, or later if you do not withdraw your offer
After an offer you placed unlock, you can pull back your NEAR from escrow by pressing Withdraw on the Rolling Auction page, or on the My Offers page (which you can find in the Launchpad)
If you have the top offer (and don’t withdraw after 24 hours) the seller can accept it at anytime.
