Auction rules

These are the mechanics that govern every AXIS Launch auction, incorporated into our Terms of Service by reference.

Reserve

Each seller sets a reserve before the auction opens — the minimum price they've committed to accept. The seller chooses whether that number is shown on the listing or kept hidden.

When the reserve is hidden, the listing still shows whether it has been met, so every bidder knows where they stand without seeing the figure itself.

Minimum bid increment

Each new bid must top the current high bid by at least 5%. Bids below that threshold are rejected during admin validation before the log is updated.

Example: current high bid is $100,000. The next valid bid is $105,000 or more.

Anti-sniping

A bid placed in the final 24 hours of the auction window extends that window by another 24 hours, measured from the time of the bid.

This can repeat. An auction only closes once a full 24 hours pass with no new bid — so a determined bidder never loses on a last-second submission they didn't get to see.

Buy-It-Now

A seller may set an optional Buy-It-Now price, fixed above the reserve. A bidder who accepts it can end the auction immediately instead of waiting out the window.

A Buy-It-Now bid ends the auction once our admin team confirms it with the seller, which we do within 72 hours. If we haven't confirmed within 72 hours, the Buy-It-Now bid is automatically rejected and the auction continues on its normal terms.

Binding bids

Bids above reserve are binding. See /auction-rules.

Placing a bid at or above the reserve creates a binding obligation: if that bid wins, you are committing to transact. This is backed by our Terms of Service and by a checkbox every bidder confirms on the bid form: "I have read the Auction Rules and understand my bid above reserve is binding."

Bids below the reserve are non-binding indications of interest.

Admin rights

Our admin team may reject any bid, or cancel an auction outright, if we suspect fraud. This right exists to protect sellers and legitimate bidders — not to influence price.

Transparency

Our team updates the high bid within 1 business day; every update is dated on the listing.

We run auctions manually, not through a live ticker. The number you see is the last high bid our admin team posted, and the dated update log on each listing shows exactly when it last changed.