Participation Requirements
To participate in the auction, you must have a verified Alt account. Click here to sign up!
Timing
All Liquid Auctions run for a two-week cycle. Auctions open on Thursday evenings, shortly following the close of the previous auction, and last for 14 days, with Extended Bidding beginning at 9PM ET on the 14th day.
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 amount. 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.
Watchlist: If you are interested in monitoring the progress of a card that is live within an auction, to potentially submit a bid at a later date, you can add it to your Watchlist. To do so, simply click on the heart icon that is located in the card's detail section. Once the heart icon turns purple, the card has been successfully added to your Watchlist, where you will receive automated updates regarding the card's progress.
To view/modify your Auction Watchlist, simply click into 'My Auction' on the Liquid Auctions landing page and toggle to the 'Watching' tab. From this page collectors can easily monitor a specific card's bidding progress and submit a new bid on the card without needing to toggle back into the primary auction page.
To remove a card from your Watchlist, simply de-select the heart icon that is located on the card's detail section.
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 9PM 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
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. You can review our Bid Retraction Policy here, and 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
The winning bid (also known as the '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.
Buyer's Premium: A 20% buyer’s premium is added to each auction sale, meaning all sales will have an additional 20% added to the winning bid amount (hammer price), for which the winning bidder will be responsible to pay. It's important for all participants within an auction to understand the concept of buyer's premium, which is a standard practice at all auction houses across the industry.
Buyer's premium is an additional fee charged by Alt to the winning bidder in an auction. It is calculated as a percentage of the final sale price, also known as the hammer price, and is added on top of the winning bid amount. The final sale price that reflects for a card sold within an auction is comprised of the winning bid amount plus the 20% buyer's premium.
Example: Let's say a bidder wins an auction with a winning bid of $100. With a 20% buyer's premium, the final sale price of the item would be calculated as follows: $100 x 20% = Final Sale Price of $120. The winning bidder in this example would be responsible for paying $120 in order to complete the purchase for the card that they won.
In the current state, buyers will be prompted to complete payment for each card won individually. If you would like to consolidate your winnings into one payment, feel free to reach out to support@alt.xyz for assistance with that process.
Collectors have 7 days to initiate a deposit for all of 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. Please refer to our Buyer's Policy for additional information.
Transfer of Ownership
Once a buyer's payment for an auction winning has successfully settled, the asset won will automatically be transferred into their Alt Vault for storage and will appear digitally within their Alt Collection.
When you purchase a card on Alt, it is physically stored within our secure Vault facilities, which are located in the state of Delaware. Since all cards must be stored at our Vault in order to be eligible for sale on our platform, they will already be located there prior to an auction purchase. Our Vault team then simply moves the asset into the buyer's name upon completion of the transaction, where it will then automatically appear digitally within their Alt Collection.
If desired, the new owner of the card can then request for the card to be physically shipped to the address of their choice:
Select the Menu dropdown (two horizontal lines on the top right of the homepage)
Select 'My Account'
Select 'Shipments'
Select 'Ship from Vault'
During this process, customers will be prompted to enter the mailing address that they would like the card(s) to be shipped to
When completing an outtake request, destination, carrier rates, and signature requirements are gathered. Subsequent shipping charges for the outtake can be paid using a credit or debit card. Customers will be asked to enter their card details on the final confirmation of all the shipping information. All cards shipped out of the Vault will be charged an insurance fee based on their Alt Value at the time of outtake. Review our help center article Vault Outtake Shipping Requests for more information.
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 collectors 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.
Frequently Asked Questions
How can I remove my bid for a card in auction?
A: Bid retractions are generally prohibited. We encourage bidders to exercise caution and review their decisions carefully prior to submitting bids. You can review our Bid Retraction Policy here, and reach out to our Collector Support for further assistance.
Can I pay for my auction winnings via wire transfer?
A: We are happy to accommodate incoming wire transfers in order to complete payment for purchases on Alt. Take a moment to review our article, Payment & Payout Methods, for more information surrounding this process, as well as the incoming wire instructions.
I am being asked to initiate payment for each card that I won individually. How can I consolidate in order to only complete one payment for all of my winnings?
A: Unfortunately, our payment process does not currently support bulk payments for multiple cards, so typically each card must be paid for individually. We understand that this can result in a time-consuming and cumbersome payment process. If requested, we are happy to offer a couple of convenient options in order to bypass this process and streamline post-auction purchases. Feel free to reach out to us at support@alt.xyz for more information.
I paid for my winnings, why aren't the cards reflecting within My Collection?
A: ACH transfers typically take 4-5 business days to fully settle into Alt. If you completed payment for your winnings via ACH, then your transaction will likely settle on the 5th business day following initiation. Immediately after the funds clear into Alt, your auction purchases will process and the cards will automatically appear within your Alt Collection.
I don't want my cards to go to the Vault. How can I have them sent to me instead?
A: When you purchase a card on Alt, it is stored securely at our Vault facilities in Delaware. All cards must be stored at the Vault to be eligible for sale, so they are already there prior to an auction. After a purchase, our Vault team moves the card to the buyer's name, making it appear digitally in their Alt Collection.
If you wish to have the card shipped, you can follow these steps after your transaction has completed:
Select the Menu dropdown in your Alt account (two horizontal lines on the top right of the homepage)
Select 'My Alt'
Select 'Shipments'
Select 'Ship from Vault'
During this process, you will need to enter the mailing address for the shipment. Shipping charges, including destination, carrier rates, and insurance fees based on the card's Alt Value, can be paid with a credit or debit card during the final confirmation step. For more details, please review our help center article on Vault Outtake Shipping Requests.
Do you offer payment plans for cards won within an auction?
A: Alt Lending allows you to borrow cash against your cards without having to sell them, offering competitive rates. To apply for a loan, your cards must be graded by PSA, BGS, or SGC, valued at over $10,000, and have a minimum value of $500 based on Alt Value. The loan process requires your US Social Security Number and home address, and all cards used as collateral must first be secured within the Alt Vault.
Eligible collectors can borrow up to 40% of their portfolio value, with a minimum loan size of $10,000. If you meet these minimum qualifications, you may be eligible to enroll in a payment plan in order to pay off an item won in auction. Please review our Lending article for additional details and to begin, reach out to our team at lending@alt.xyz with the necessary information.
After being outbid on a card, I was just notified that I am now the leading bidder again, what caused this?
A: If a bid is submitted by a user that is unconfirmed, our team may retract the bid in an effort to maintain fairness and transparency within our Liquid Auctions.
Unconfirmed Bids: Alt reserves the right to retract bids for users who have not completed the process to confirm their bidding activity through our email confirmation. Emails are sent to new bidders within 24 hours of them bidding within an auction.
We have a robust process in place to monitor all bidding activity during our auctions. In certain cases, we require additional financial documentation to be provided in order to secure a bid; failure to submit the proper documents by the stated deadline will result in the bid being removed.
Rest assured that you will not end up paying more for an item if the previous leading bid is removed. Although alternative assets, such as collectible cards, are not regulated securities, 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. To achieve this, the product has been built with controls, such as this, in place.
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