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Using the Auction System

A guide to the auctions system on PrimePort

Auctions let you sell an NFT to the highest bidder over a set time window. Unlike a fixed-price listing, the final sale price is determined by competitive bidding, useful for high-value or rare NFTs where market demand is unknown.

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Creating an Auction

Go to My Profile, open the NFT you want to auction, and click Start Auction.

Fill in the following fields:

  • Start date — When bidding opens. Can be immediate or scheduled.

  • End date — When bidding closes. No bids are accepted after this time.

  • Starting price — The minimum bid required to start the auction.

  • Reserve price (optional) — A hidden minimum. If the highest bid does not reach this amount, the auction ends without a sale.

Check the Terms of Service box and click Create Auction. Confirm the transaction in your wallet to publish the listing.

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How Bidding Works

Once the auction is live, any connected wallet can place a bid. Each new bid must exceed the current highest bid. Bids are visible in the Bids section on the NFT detail page, showing bidder address, amount, and timestamp.

Funds are held on-chain for the duration of the auction. Outbid participants can reclaim their funds once they are no longer the highest bidder.

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