Participation Requirements:
Participation Requirements:
To participate in the auction, you must have a verified Alt account. Click here to sign up!
Timing:
Timing:
All Liquid Auctions run for a two-week cycle. A new auction opens 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:
Placing a Bid:
Maximum bids: The starting price for a card is based on its Alt Value & 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 Liquid 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:
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:
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:
Payment:
The winning bid (hammer price) will be one bid increment above the second-highest bid amount or the bidder’s maximum bid, whichever is lower. In the event of a tie, the winning bid will be the effective price at which the auction closed.
A 20% buyer’s premium is added to each sale in Liquid Auctions, meaning all sales will have an additional 20% added to the winning bid (hammer price).
A buyer’s premium is a fee charged by Alt that auction winners will pay in addition to the hammer price, which is the winning bid in Liquid Auctions. The final sale price of a card refers to the hammer price plus the buyer’s premium.
Customers have 7 days to initiate a deposit for their auction winnings. If payment is not initiated by the deadline, Alt reserves the right to suspend their account and freeze ownership of any assets purchased.
As a seller in our Liquid Auctions, you'll receive a bonus on top of the hammer price for every card sold. Here's how it works:
Hammer Price: $1 - $999
Seller receives: 100% of the hammer price + 4% bonus
Hammer Price: $1,000 - $4,999
Seller receives: 100% of the hammer price + 6% bonus
Hammer Price: $5,000 - $9,999
Seller receives: 100% of the hammer price + 8% bonus
Hammer Price: $10,000 - $249,999
Seller receives: 100% of the hammer price + 10% bonus
Hammer Price: $250,000 and above
Seller receives: 100% of the hammer price + 12.5% bonus
Compliance:
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 Liquid 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 Liquid Auctions.
Detailed information regarding how to submit cards to our Liquid Auction 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