> For the complete documentation index, see [llms.txt](https://docs.scv.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.scv.finance/nft-ecosystem/marketplace/nft-auction.md).

# NFT Auction

NFT market supports both direct purchase and auction.

## Auction Rules

1. When the countdown is less than 10 minutes, every new bid will extend the countdown by 10 minutes;
2. Each bid will be increased by a fixed price of 10% each time. Once the countdown ends, the auction item will be obtained by the last/highest bidder;
3. The most important rule: **10% of the price increase for each bid is distributed to the previous bidder**, and the remaining 90% would be the income of the auction publisher if it’s the last bid or returned to the bidder when it’s outbid.
4. After the auction ends, the last bidder needs manually collect the NFT to finish the trade. Once the NFT is collected, seller will receive his profit too.

## How To Start An Auction

1. Choose the NFT you want to sell in your [NFT portfolio](https://scv.finance/nft/portfolio?tab=in-wallet);
2. Set a start price and end time;
3. Confirm in your wallet, then the auction will start immediately.


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