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For details on the safekeeping measures put in place to fulfill commitments, please click here. For instance, a buyer purchases Algos at auction the auction purchaser and then sells all Algos on an exchange.
Subsequently, the auction purchaser purchases 50 Algos in a secondary market. During the refund window associated with her original auction purchase, the auction purchaser can use the 50 Algos that she bought in the secondary market to claim a refund for 50 Algos. Additionally, the auction settlements will be posted to the Algorand blockchain. Therefore, all addresses that successfully purchase Algos will be recorded along with the amount of Algos that they received.
During the open refund claim window, a user who purchased Algos at auction can return their Algos to the foundation by issuing a transaction on the Algorand blockchain. Once it receives the Algos, the foundation will refund the buyer via their account.
In order to fulfill its liabilities, the Algorand Foundation will hold the funds needed to implement the refund policy for each auction in a segregated account until the refund window for the corresponding auction expires. For more information, please see these auction refund details. All auction purchases and refunds are denominated in USD, regardless of the form of payment used. If refunds are issued via Bitcoin or Ethereum, they will be priced to the USD exchange rate at the time of refund.
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Stay tuned to the official Algorand Foundation social channels for the latest updates on auction dates, times, and details. The specific parameters for each auction will be committed to the Algorand blockchain in advance of each auction.
Upcoming auction announcements will indicate the parameters of the auctions, including:. Qualified participants will be able to buy, sell, or trade Algos on a variety of digital currency exchanges. Ready to get started?
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Auctions - Econlib
Start a Wiki. You can search for an item by clicking the sign and typing the item name. Auction Tips Edit Making Auctions: Create a minimum price that helps you profit while not being too high. Remember, the minimum price is the LEAST you will make, so make it low enough that your auction will still get some bids. Enchanting an item can give it a higher value. Don't waste enchantments on it however, as an item with Protection I may sell for less than if you had not enchanted it. This is because now you have to use anvils to add other enchants, which is harder than just buying a piece without Protection I.
If you are unsure on what price you should set for your item, look at other prices for the same item, and use that as a guide for setting your price. You may have a higher chance of getting a bid if you set your price lower than other same items.