Auction
From FinalEscapeWiki
Contents |
General
FinalEscape features a centralized auction system which allows players to securely sell items to one another. All auction transactions are made using a player's Phiela Bank account. Items won on the auction are delivered to the winning bidder via the Parcel system by the Phiela Auctioneer.
Auction bid increments are proportional to the current bid, and follow the following schedule:
| Current Bid | Min Bid Increment |
|---|---|
| 1-100 | 1 |
| 101-200 | 2 |
| 201-500 | 3 |
| 501-1000 | 5 |
| 1001-2000 | 10 |
| 2001-5000 | 20 |
| 5001-7500 | 75 |
| 7501-10000 | 100 |
| 10001-15000 | 150 |
| 15001-20000 | 200 |
| 20001-50000 | 250 |
| 50001-100000 | 500 |
| 100000+ | 1000 |
For example, if the current bid on an auction item is 1200 PMU, the next bid must be at least 1220 PMU.
Auction Preferences/Bidding Alias
The first time you visit the auction page, you will find several auction settings, including your auction alias and auction alert preferences. Before you can participate in any auctions, you must set an auction alias. All of the various auction-related alerts to Yes by default. If you later wish to change your auction alias or preferences, you can do so on the Preferences page, under the Auction tab. Note that you cannot change your auction alias if you are participating in any active auctions (either as buyer or seller).
Selling
When listing an item for auction, there are several parameters that can be defined, including: quantity, auction duration, starting bid, and an optional Buy Now price (which allows another player to instantly purchase the item). Any items placed on auction are removed from your avatar's inventory for the duration of the auction. If the auction ends without a sale, the item is returned to your inventory. As the seller you can also cancel an active auction if noone has yet bid on the item by clicking the Remove button on the auction listing.
Auction fees are charged at a rate of 6% of the resell value of the item(s) being listed (the amount the item(s) can be sold back to the Phiela Exchange), with a minimum fee of 4 PMU. An optional premium listing can also be added for a flat fee of 50 PMU, which gives your item more visibility in the auction display pages via special colored highlighting.
Bidding
To place a bid on an active auction, you must have enough funds in your bank account to cover the amount of the bid (or any proxy bid you choose to place, see below). If you have the highest bid when the auction ends, you will win the auction and the item(s) will be placed into your inventory. If your bid is equal to or higher than the Buy Now price, you will immediately win the item and funds will be transferred to the seller.
Proxy Bidding
When entering your bid amount, you have the option of entering an amount higher than that needed to claim the high bid. If you do so, the auction system will automatically bid on your behalf the minimum amount necessary to maintain the highest bid on the auction, until your maximum proxy bid amount is reached. If you are currently the high bidder on an item, you also have the option to increase your max proxy bid by clicking the Increase button for that auction listing.
Example: Current bid - 400 PMU
You enter 700 in the bid form. A bid of 405 PMU is automatically placed for you, and will be listed on the auction as the new current high bid. A few minutes later, another player bids 500 on the item. The auction system will automatically bid 510 on your behalf, reclaiming the top bid. Another player then bids 620 PMU. Again, the auction system will bid on your behalf, this time in the amount of 630 PMU. If a new bidder then comes along and bids 720 PMU (thus exceeding your maximum proxy bid), your 700 PMU will be returned to your bank account.
IMPORTANT NOTES
- Be sure to have enough funds in your bank account to cover the auction listing fee when attempting to list an item for sale on the auction.
- In the case of bid ties (identical bid amounts), the earlier bidder has precedence (i.e. the orignal proxy bidder).
- A scheduled task runs every five minutes which finalizes all completed auctions and returns any funds from outbid bids or proxy bids. If you do not receive funds back immediately after being outbid, do not be alarmed; the funds will be returned the next time the scheduled task is performed.
- Items bought from the auction using the Buy Now option are immediately placed into your inventory, rather than being delivered via Parcel.
- Preferred Colonists receive a 50% discount on all auction fees. Please see the Donations section for more information.
