How to Accept Bids / Settle Auctions

Congratulations on the successful conclusion of your auction! It seems a community member has shown interest in your asset and placed a bid. Now that the auction has ended, it's time to accept the bid and finalize the transaction.

How to accept the final bid as a seller

1. Make sure that your wallet is connected to NFT.io. If it's not yet connected, you may check this article on how to do so: How to Connect to NFT.io.
   Click on the user avatar on the upper right corner and click "Profile".
   
   
   
2. To view your current auction listings, select the "On Sale" tab on your profile page. Alternatively, you can locate your listings in the "Explore" section of NFT.io.
   
   
   Utilize the "Filter" feature to narrow down the displayed assets. You can also sort these assets based on the available options.
   
   
   
   
3. For recently concluded auctions, you'll observe that the auction timer on the upper right corner of the asset card is absent. Here's a screenshot comparing two assets with and without the auction timer.
   
4. To accept a final bid for an auction, you have two options:
   • Hover your cursor over the asset and click "Accept Bid".
     
     
   • Click on the asset to view more details. On the asset profile page, you'll notice that the auction timer has disappeared and the message "Auction Ended" confirms the auction's conclusion. The "Place a bid" button is now replaced with the "Accept Highest Bid" button. Click on this button to accept the highest bid.
     
     
     
5. Upon clicking the "Accept Highest Bid" button, a pop-up window will display the Transaction Fee and Total cost of the transaction. To finalize the transaction, click on the "Confirm Transaction" button. You will then be prompted to sign the transaction using the wallet currently connected to NFT.io.
   
6. Once the transaction is confirmed and processed, the ownership of the asset will be transferred to the new owner.
   
   

How to settle the auction as the highest bidder

As the highest bidder of an auction listing, a user has the ability to settle the auction and acquire the asset. Here's a step-by-step guide on how to do that:

1. Once the auction has ended, the asset will no longer be displayed in the marketplace. To view the asset that a user has bid on, they should click on their user avatar and navigate to "Notifications". The user will be asked to sign the transaction using the wallet connected to NFT.io.

   
   
   

2. In the "Notifications" section, users can view their past actions, including the assets they've bid on and the status of the auctions. Once an auction has expired, the user can locate the asset they bid on and click on it to view the asset profile.

   
   
   Alternatively, users can access their previous activity by clicking on their avatar on the upper right corner and selecting "Profile".
   
   
   After clicking on "Profile", users should select the "Activity" tab to view previous activity. They should then locate and click on the asset for which they have placed a bid.
   
   
   
3. Upon accessing the asset profile, users will see the "Settle Auction" button. Clicking on that button will initiate the transfer and complete the transaction.
   
   
   
4. A pop-up window will appear displaying the Transaction Fee and Total amount. Users should click "Confirm Transaction" to proceed. They will then be prompted to sign the transaction using the wallet connected to NFT.io.
   
   
   
5. Once the transaction is confirmed, ownership of the asset will be transferred to the user. They will now see the option "List for sale" as they are the current owner. If they plan to sell the asset, they can list it for sale or auction.
   
   
   

We trust this guide will help users navigate the auction process on NFT.io with ease. For further assistance or queries, please contact our customer support team.

Happy bidding and good luck with your auctions!