> For the complete documentation index, see [llms.txt](https://docs.courtyard.io/courtyard/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.courtyard.io/courtyard/about-courtyard.io/auctions.md). # Auctions Welcome to our new Auctions beta! We're bringing the thrill of live auctions to Courtyard.io for the first time. Our auctions are no-reserve, meaning there's no minimum price set, and they last for a week, giving you ample time to participate. Plus, enjoy extended bidding for added excitement at the auction's close. Happy bidding!


Extended bidding explained ⚡

**What is a no-reserve auction?** \ A no-reserve auction means there’s no minimum price for the card being auctioned.
**Is there a buyer's premium?**\ Yes, there is a 10% buyer's premium that will be applied after the auction ends. The buyer will pay 10% in addition to their bid, meaning that the seller receives the full bid value that the buyer placed.
**What payment methods are accepted?**\ Auction winners can purchase via credit card and USDC on Polygon. You will be paid out in USDC to your Courytard.io wallet.
**What happens if the buyer doesn’t pay?** \ We will evaluate this on a case by case basis and ban users where appropriate. If the auction winner does not complete payment within 7 days, the card will be returned to you and the user will be banned from participating in future auctions.
**Can anyone participate in auctions?**\ Yes! Once you verify your phone number, you'll be able to participate. \ **Will proof of funds be required?**\ Yes, once bids pass a certain threshold, you will be contacted to provide proof of funds. Courtyard reserves all discretion to remove any bids suspected of being fraudulent. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.courtyard.io/courtyard/about-courtyard.io/auctions.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.