How tezsat auctions work

An auction differs from an ordinary listing in one respect: the price is set by the buyers, not the seller.

If you are selling

Creating an auction means choosing two numbers:

The starting price — where bidding opens. A low start pulls in more bidders; a high start protects you but can leave the auction with no bids at all.
The closing time — activity climbs as the clock runs down. Most bids arrive in the final hour.

Good photos and an honest description matter even more here, because a bidder is committing to something they have only seen in pictures.

If you are bidding

A bid is binding. Backing out after you win can lead to restrictions on your account, so only enter an amount you will actually pay.

Three practical habits:

Work out the market price first and set yourself a ceiling.
Stop when a bid passes it. The most expensive mistake in any auction is stubbornness.
Keep the page open in the last minutes — the price updates live, so there is nothing to refresh.

After the hammer

The highest bid wins. The two sides then settle payment and handover in chat. tezsat introduces buyer and seller but is not a party to the deal, so the safe-trading rules apply exactly as they do anywhere else.

Common questions

Does it cost anything to bid? Some auctions require a participation deposit. The amount is shown before you join and is returned if you do not win.

Can I withdraw a bid? No. A bid is binding.

Can an auction be cancelled? A seller can cancel before the first bid. After bidding has started, cancellation is an exception rather than a right.