Auction Participation & Bidding Requirements
To participate in an auction, you need an active Alt account with a valid payment method on file. When placing your first bid, you'll be prompted to enter your payment details, which will be securely stored for future use.
$10,000 Bidding Threshold:
If your total bids in an auction cycle remain under $10,000, you can use a credit card as your primary payment method.
If your total bids reach or exceed $10,000, you will need to add a bank account on file to enable ACH transfers before placing any further bids.
High-Value Bidding Threshold:
For cumulative bids that exceed our internal high-value threshold, we require manual account verification.
If your active bids exceed this limit, you will be prompted to contact Support for account review and approval. Once verified, you can continue bidding at this higher tier.
These measures are in place to ensure security and maintain a trusted environment for all participants. If you need assistance with the verification process, feel free to contact our Support team.
Timing
All auctions run for a two-week cycle. A new auction begins every Friday morning, shortly following the close of the previous auction, and last for 14 days, with Extended Bidding beginning at 9:00PM ET on the 14th day, which falls on Thursday evening.
Placing a Bid
Maximum bids: The starting price for a card is based on its Alt Value and specified when the auction opens. All bids are placed using the "maximum bid" model; when you place a bid, you should enter the maximum amount you'd like to pay for the card. This bid amount is private and will only be visible to you.
Automatic bidding: We'll bid in increments on your behalf to keep you in the lead up to your maximum bid. These increments are based on the auction's current price. If you are outbid, you will be notified via email. If you are outbid immediately, another earlier bidder has a maximum limit equal to or higher than yours.
Automated Bidding Increments
Automated Bidding Increments
Current Price: $0 - $499
Bid increment: $10
Current Price: $500 - $999
Bid increment: $25
Current Price: $1,000 - $2,499
Bid increment: $50
Current Price: $2,500 - $4,999
Bid increment: $100
Current Price: $5,000 - $9,999
Bid increment: $250
Current Price: $10,000 - $19,999
Bid increment: $500
Current Price: $20,000 - $29,999
Bid increment: $1,000
Current Price: $30,000 - $49,999
Bid increment: $2,500
Current Price: $50,000 - $99,999
Bid increment: $5,000
Current Price: $100,000 - $199,999
Bid increment: $10,000
Current Price: $200,000 - $299,999
Bid increment: $20,000
Current Price: $300,000 - $599,999
Bid increment: $25,000
Current Price: $600,000 - $999,999
Bid increment: $50,000
Current Price: $1,000,000 - $1,499,999
Bid increment: $50,000
Current Price: $1,500,000 and up
Bid increment: $100,000
Extended bidding: At 9:00PM ET on the night of auction close, all cards within the auction catalog will enter into Extended Bidding. If any card receives a bid during the Extended Bidding window, the entire auction's end time will extend by a fixed amount. The duration of the extended bidding window will gradually decrease over time, in an effort to help prevent the auction from extending late into the night. Read more about our Extended Bidding session here.
Updating a Bid
Once a bid has been placed within any Alt auction, it is considered binding. Bid retractions are generally prohibited. We encourage bidders to exercise caution and review their decisions carefully prior to submitting bids. Reach out to our Collector Support team at Support@alt.xyz for further assistance.
Winner Selection
The card will be sold to the highest bidder upon auction close. In the event of a tie, the first bidder who placed the winning bid amount will be selected as the winner of the card.
Payment
Once an auction concludes, your final purchase price will include:
The hammer price (the winning bid) — this is either one increment above the second-highest bid or your maximum bid, whichever is lower.
A 20% buyer’s premium added to the hammer price.
The final sale price is the hammer price plus the buyer’s premium.
How Payment Is Collected
Alt will automatically use any available account balance to cover your auction winnings first. Please note:
There may be a 30-minute delay between auction close and the system applying your account balance toward your purchases.
If your account balance fully covers the amount due, the transaction will process using those funds before any stored payment method is charged.
Payment Deadlines
Purchases Totaling Under $10,000: To ensure a smooth and efficient checkout experience, winners have one hour after auction close to complete their payment.
Purchases Totaling Over $10,000: To provide flexibility for higher-value transactions, winners have up to five days after the auction concludes to complete their payment.
If payment isn't initiated within the applicable timeframes above for your purchases, Alt will automatically process the transactions using your default payment method on file. If that method fails, we'll automatically attempt your other stored payment methods to complete the purchase — your default method will be used again for your next purchase. See Payment & Payout Methods for more on how automatic payments work.
Seller Bonus
When purchasing a card in an Alt Auction, a 20% Buyer's Premium is applied on top of the final hammer price (winning bid) of the card. Sellers do not pay selling fees on auction proceeds — you receive the full hammer price plus your seller bonus. However, please note that vaulting fees may apply at the time of intake for slabbed cards with an Alt Value under $50.
Alt applies the buyer’s premium on top of the final hammer price, which is shared between the seller and Alt. Sellers receive the full hammer price plus a seller bonus, determined by:
The submission value of the lot at the time it was received (this value refers to the estimated market value of all cards submitted together as a single lot)
Your current Alt Rewards tier
Submission Value When Received | Base Tier | Silver Tier | Gold Tier | Black Tier |
<$1k | 104% | 106% | 108% | 110% |
$1k - $5k | 106% | 108% | 110% | 111% |
$5K - $25K | 108% | 110% | 111% | 112% |
$25K - $50K | 110% | 111% | 113% | 114% |
$50K - $200K | 112% | 113% | 114% | 115% |
$200K+ | 115% | 115% | 115% | 115% |
Compliance
Although alternative assets, such as collectible cards, are not a regulated security, our mission at Alt is to treat these assets as a true financial asset class which includes holding ourselves to a high standard of compliance. Alt's Auctions are meant to provide an auction experience that is transparent and that customers can trust. To achieve this, the product has been built with controls in place that disallow disingenuous bidders. We have also taken additional steps by laying out guidelines for employee engagement within our Auctions.
Detailed information regarding how to submit cards to our auctions is available here
For questions, please contact us through the messenger located in the bottom left corner of your browser, text us at (833)483-5949, or reach out to support@alt.xyz