Make Sure You Know Who You Are Dealing With!

Pre-Auction Preparation

• Define the item details: ideally prepare a draft document with a clear description, including condition of the item(s) and photos.
• Format: Startegize your auctione depending on the item you are selling. You can learn about different auction formats from this post. The more effective auction format is the one that ends 24 or 48 hours after last bid. This way, last second bidders are automatically out of the game, and it is much more helpful in determining the real market price of your asset. Or you can instead simply define a specific time to end it.
• You, as auctioneer, need to define the terms: make sure to specify the payment methods accepted, (ideally onchain BTC, Lightning address or cashu tokens) shipping policies, and buyer responsibilities.
• Duration of the auctions: it can not go forever, right? Decide the auction end time, preferably expressed in UTC to avoid confusion among stackers around the Wild West Web.
• Set a minimum starting bid & increments. Clearly!

Create the Auction Post

• Title: [AUCTION] Whatever item Name - Start at X.XXX BTC - Ends 5 Apr 23:59 UTC
• • To make it shorter, you can remove some spaces on amount, date and time as shown below: StartX.XXXBTC-Ends5Apr23:59UTC
• Text: include the description and photos you prepared earlier.
• Starting bid: clearly define amount clearly: X.XXXBTC or X,XXXsats¹.
• Bid increments: you can define a minimum or a set bid amount using the same formatting above.
• Buy it Now: optionally, you can add your ideal price t sell the item immediately
• Ending time: When defined, double check with time.is/compare/UTC to get the exact end date and time: Ends: April 5, 2025 at 23:59 UTC.
• Rules: Ideally you can define extra rules like:
• • Late bids ignored and voided, timestamps check for validation.
• • Winner to contacts me within 24 hours via nostr DM: AGORA@stacker.news or npub.
• Payment methods accepted: If you accept payment methods other than Bitcoin, like lightning or cashu tokens, mention them here. Beware of PayPal and other reversible transfer services!
• Additional information: You can include information about payment, shipping costs, escrow, and auction rules here.

[AUCTION] Whatever item Name - Start at X.XXX BTC - Ends at 5 Apr 23:59UTC

**Text:** include the description and photos you prepared earlier.
**Starting bid:** `X.XXXBTC` or `X,XXXsats`
**Bid increments:** `X.XXXBTC` or `X,XXXsats`
- **Buy it Now:** `X.XXXBTC` or `X,XXXsats`
- **Ends at:** `April 5, 23:59` [`UTC time`](https://time.is/2359_5_Apr_2025_in_UTC)
- **Rules:**
- - Late bids ignored and voided, timestamps check for validation.
- - Winner to contacts me within 24 hours via nostr DM: `AGORA@stacker.news` or `npub`. 
- **Payment methods accepted:**
- **Additional information:**

How to Bid

Bidder Checklist:

• Carefully read the auctioner post in detail befoore taking any decision.
• Order the commets section by recent to check if any new bid has been placed.
• Do NOT post a bid if there's a previous one has posted less than 10 minutes ago, you'll see it indicated in the comment header.
• Reply to the post simply indicating your bid amount using the format X.XXXBTC or X,XXXsats.
• Remember that you have currently 10 minutes to edit your bid.

Auctioneer Checklist:

• Optionally, when on desktop, enable notifications in your browser settings.
• Order the commets section by recent to check if any new bid has been placed.
• Keep one two eyes on the auction and check for new comments.
• Reply to comments or respond to bidders' questions.
• Confirm latest valid bids, for example ✓ Current highest: 0.001 BTC.
• Post periodic updates, like 2 HOURS LEFT – High bid: 0.0021 BTC by @user.

Close the Auction

• Ensure you are in front of the screen while before the defined deadline Close at the stated UTC time. Use Time.is/UTC for reference.
• Post a new comment declaring the winner and final bid amount, something like WINNER: @user with 0.0042 BTC.
• Pin the comment selecting pin item from the comment's…menu

Post-Auction Process

• Send or Receive the Payment: Always share your payment details privately. For high-value items, recommend an escrow service to guarantee a successful trade, especially if the other party is new or unknown.
• Shipping: Update the winner via DM and provide tracking.

Tips

• Give a brief description of the auction goods and terms in the thread subject as indicated abobe.
• Don't be vague in your description. The more details, the better!
• When trading a physical item, give buyers an idea on how much natioal and international shipping will cost.
• Keep track of your auction regularly and respond to questions.
• Set up your auction to end at a convenient time, so you can contact the winning bidder and arrange delivery promptly.

• Ask the seller any questions you have about the items being auctioned. If you are not sure about the item's condition or if you want more information, you can post your question in the auction thread.
• Replies in the Auctions section cannot be deleted or modified. Choose your bid wisely!
• To keep track of bids in an auction, click the subscribe option from the … post's menu at the top of the page. The thread will show up in your notifications page.

Conclusion

• Sellers: Be precise in your auction description and terms, keep track of your auction and make sure the bidders are always informed. Buyers: Ask questions about what you are bidding on, and make sure you agree with the auction terms.
• Everyone: Exercise caution when trading with strangers, and always use an escrow when in doubt.