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Introduction

Sell an NFT using a reserve auction#

These Reserve Auction Modules allow anyone to sell an ERC-721 NFT using a reserve auction. In a reserve auction, the seller sets a minimum price, and only if a bid meets or exceeds the price will the auction timer start. You can view all of the code for the Reserve Auction Modules in this GitHub Repo.

Reserve Auction Addresses#

Mainnet Deployments#


Ethereum - 1#
ContractAddress
CoreETH0x5f7072E1fA7c01dfAc7Cf54289621AFAaD2184d0
CoreERC200x53172d999a299198a935f9E424f9f8544e3d4292
FindersETH0x9458E29713B98BF452ee9B2C099289f533A5F377
FindersERC200xd1adAF05575295710dE1145c3c9427c364A70a7f

Testnet Deployments#


Ropsten - 3#
ContractAddress
CoreETH0xF57A73D355680Df3945Da7853A1F1F9149C7DA4D
CoreERC200x818F7A204B7C82ae1CAE37E1921B855584da67D9
FindersETH0xbfF7B9C643bDE6fDb43b4f7c60Ea29C31D4621Df
FindersERC200xB447467220617330445FABce737d1512A0205531
Rinkeby - 4#
ContractAddress
CoreETH0x3feAf4c06211680e5969A86aDB1423Fc8AD9e994
CoreERC200x9eb86B88D13eD0e38348AB951b55a26cA468A262
FindersETH0x1b5A56DEa3d9760c6b14B709B9cf0ef9AaCD2730
FindersERC200x81950e0CD9c51564583bFB80EC3d40f2B915A956
Goerli - 5#
ContractAddress
CoreETH0x2506d9f5a2b0e1a2619bcce01cd3e7c289a13163
CoreERC200x1ee71c10e7dd6c7fbdc891de4e902e041e1f5d33
FindersETH0x29a6237e646a5a189db197a48cb96fa7944a32a2
FindersERC200x36ab5200426715a9dd414513912970cb7d659b3c

Reserve Auction Variants#

There are several variants for the Reserve Auction. Each variant comes with different features and associated gas costs.

ContractSupports ETHSupports ERC-20Supports Finders FeeSupports Listing Fee
CoreETHโœ…๐Ÿšซ๐Ÿšซ๐Ÿšซ
CoreERC20โœ…โœ…๐Ÿšซ๐Ÿšซ
FindersETHโœ…๐Ÿšซโœ…๐Ÿšซ
FindersERC20โœ…โœ…โœ…๐Ÿšซ

Finder's Fee#

The Finder's Fee is an amount offered to the party that helped match the highest bidder to the NFT.

For example, a user creates an auction for one of the NFTs in their wallet. If a Finder's Fee was specified, then the interface that helped match the NFT to the highest bidder could be entitled to that amount. Note that the Finder's Fee is only charged if the auction completes.


Key Considerations ๐Ÿ”‘#

  • An auction can be created by an owner or approved operator for any ERC-721 token.
  • The auction timer will start when a bid is greater than or equal to the reserve price.
  • The NFT is only taken into custody after the first valid bid is submitted.
  • The timer will be set back to 15 minutes if a bid is submitted within the last 15 minutes.
  • The amount for a bid is held in custody by ZORA until either the auction ends or a higher bid is placed.
  • The percentage difference for a new bid must be greater than or equal to 10% of the previous bid.
  • Creating a bid with an ERC-20 token requires that the bidder approve the ERC-20 Transfer Helper, but is not required for ETH bids.
  • Royalties are paid out using the Manifold Royalty Registry when an auction ends.